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Aug 31 2020, 07:00 IST/BST
While trading profits may still fall up to 30% this year, it would represent a far better outcome for Grafton than had been feared at one stage during Q2. The group has performed impressively in adverse circumstances and the diversity of its operating base, arguably under-appreciated, has proved a real strength. Another strength is its balance sheet which, as ever, provides capital allocation optionality.