Grafton kicks off series of investor meetings

Published:  15 November, 2011

DUBLIN: DIY specialist and builders' merchant Grafton is running a series of roadshows for investors over the next week in England and Scotland.

According to the Irish Times, the roadshows kicked off in London on Thursday November 10 and continued in the Channel Islands. This week the roadshows will take place in various centres in England and Scotland before a meeting in Dublin on Friday November 18. The meetings are primarily aimed at retail stockbrokers and wealth managers in Britain.

Although the advance notice about the roadshows mentioned that a "sterling retail bond may follow, depending on market conditions" the group is understood to have dropped the idea as market conditions are unstable.

The group said this week that it expects its operations to generate between €52 million and €55 million in profits this year. This figure was lower than analysts' expectations of nearly €60 million.

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