Grafton announces better-than-expected profits of £79.1m

Grafton Group has announced that, for the half year to the end of June, it made a before-tax profit of £79.1m, a 16% increase on the same period last year.

Revenue was up 9% to £1.3bn, a 6% increase in constant currency, while adjusted operating profit before property profit was up 19% to £77m.