October 17, 2019 / 6:33 AM / a month ago

Grafton Group warns of lower profit in 2019

Oct 17 (Reuters) - Building materials distributor Grafton Group Plc warned on Thursday that its annual profit would be below market expectations, due to weak consumer demand in the UK and delays in new construction permits in Netherlands.

The company said it expects full-year operating profit for continuing operations to be 4% to 8% below current consensus of about 193.5 million pounds ($246.81 million) pre-IFRS 16. ($1 = 0.7840 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Rashmi Aich)

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