Building materials group Grafton has said its trading profits for the first half of this year were ahead of the same period last year, with profits recovering strongly in the second quarter.
But turnover was slightly down on the same period last year - €980m compared with €990m a year earlier. Grafton said sales were up in the second quarter, when the effects of currency movements were stripped out.
The company said UK merchanting sales rose 4% in Q2 from a year earlier as the country's new housing market strengthened. But Irish sales continued to fall, down 22% in Q1 and 10% in Q2.
Grafton said the refinancing of its debt was going ahead 'satisfactorily' and on schedule, with new arrangements coming into effect in Q3.
