Grafton Group said the Irish market 'continues to see good performance and growth', though trading in Britain and Finland 'remains challenging'. Photograph: Laura Hutton
The Irish building materials distributor and DIY retailer brought forward its scheduled trading update in order to announce the completion of the acquisition, with the company also indicating that full-year profit operating profit would be “broadly in line with expectations”. The acquisition of Salvador Escoda is consistent with Grafton’s strategy of acquiring platform businesses in new markets that will allow it to further increase its growth and scale, Mr Born said.
The Grafton boss said the group was confident that its medium-term outlook remained positive, amid “strong demand fundamentals, not least in the demand for new housing”.