Grafton expects profits at lower end of expectations

 

Builders' merchant and DIY group Grafton said it expects full-year profits for 2008 at the “lower end of market expectations”.

Dublin-listed Grafton, which owns Atlantic Homecare and Woodie's said it expects turnover for the year in the region of €2.67 billion, once the impact of significant sterling weakness is taken into account.

In a trading statement Grafton said the group was “profitable and cash generative” and was dealing with the challenges presented in the current trading environment.

Grafton will publish preliminary results on February 27th.