Grafton announces €13.4m profit as market 'eases considerably'

Builders providers Grafton have announced a before-tax profit of €13.4m for the six months to the end of June, up from €3.7m in the same period last year.

Shareholders’ funds increase by €54.8m to €966.6m or €4.18 per share.

The company announced that operating profit more than doubled in its UK market, with the Irish market approaching breakeven, with a €500,000 loss.

Grafton boss Michael Chadwick said: "The market challenges faced by the group over recent years eased considerably in the first half...Grafton’s profits are now recovering and we expect further profit improvement in the second half."

The company owns Woodies and Atlantic Homecare.