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07/01/2009
Grafton Optimistic In Trading Statement
Irish building materials giant Grafton has reported difficult trading conditions, which it says have continued since November - but the group has insisted it is still very much "cash generative".
Grafton, which operates in the UK and Ireland, suggested its full year earning for 2008 could be at the lower end of market expectations.
Before exceptional costs, it is anticipated turnover over could come in at around €2.67bn.
This is after factoring in the falling value of sterling.
Grafton has said, despite the dip, it remains a profitable and cash generative business.
The group said that management continues to deal with the challenges presented in the current trading environment.
In a trading statement, Grafton said: "The group expects that earnings before exceptional costs for the full year will be towards the lower end of expectations."
In November, the group said revenue had dropped by 14.5% during the first ten months of 2008.
Grafton cited the downturn in the UK and Irish housing markets for the fall.
The group is expected to report its full year results on 27 February.
Shares in Graton were down 13 cent to €2.36 in early trade in Dublin this morning - down over 5%.
(PR/KMcA)
Grafton, which operates in the UK and Ireland, suggested its full year earning for 2008 could be at the lower end of market expectations.
Before exceptional costs, it is anticipated turnover over could come in at around €2.67bn.
This is after factoring in the falling value of sterling.
Grafton has said, despite the dip, it remains a profitable and cash generative business.
The group said that management continues to deal with the challenges presented in the current trading environment.
In a trading statement, Grafton said: "The group expects that earnings before exceptional costs for the full year will be towards the lower end of expectations."
In November, the group said revenue had dropped by 14.5% during the first ten months of 2008.
Grafton cited the downturn in the UK and Irish housing markets for the fall.
The group is expected to report its full year results on 27 February.
Shares in Graton were down 13 cent to €2.36 in early trade in Dublin this morning - down over 5%.
(PR/KMcA)
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