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Grafton outperforms on Irish construction, revenue rises 7% to £1.08b

Grafton outperforms on Irish construction, revenue rises 7% to £1.08b

DUBLIN: In the six months to June 30th, 2015 revenues rose by 7 per cent to £1.08 bn (€1.47bn), while group operating profit was up 21 per cent to £61.2 m and operating profit margin increased to 5.6 per cent from 5 per cent. Profit before tax rose by 26 per cent to £57.9 m, while net debt declined to a near two decade low of £51.1m, representing gearing of 5 per cent.

Gavin Slark, Grafton chief executive officer said: “The first half of 2015 has seen the group deliver a strong performance across key financial metrics as it continues to execute its strategic plans. The overall outlook for Grafton is positive and despite current challenges the group is well placed to make further progress in the second half towards delivery of its medium term targets of a 7 per cent operating margin and 15 per cent return on capital employed.”