Shares in Grafton Group, the building products and Woodies DIY company, jumped by €1 to €20.50, adding €16.8 million (£13.2 million) to the value of the company, following better-than-expected interim results. Pre-tax profit grew by 33 per cent to €15.4 million (£12.1 million) in the six months to June 30th, 1999. This is likely to lead to an upgrading of brokers' profit forecasts.

Further growth at Grafton, now capitalised at €344 million (£271 million), is anticipated in the second six months, but it may be at a somewhat lower rate.