Grafton Falls as Remains Cautious on Outlook: Dublin Mover

Grafton Group Plc (GN5), the Irish building materials supplier, fell the most in a month in Dublin trading after the company said it “remains cautious about the near-term outlook.”

Grafton fell as much as 3 percent to 5.44 euros in Dublin, the biggest drop in intraday trading since April 5, and traded at 5.45 euros as of 10:15 a.m. Trading volume in the stock was 1.3 times the average for the past three months at about 588,000 shares.

Sales for the four months to the end of April were 677 million euros, little changed from 676 million euros in the same period last year, the company said today. Like-for-like sales in the Irish retailing operation fell 8.7 percent.

To contact the editor responsible for this story: Dara Doyle at ddoyle1@bloomberg.net

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