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IN BRIEF: Grafton defends environmental, gender efforts after AGM vote

4th Sep 2023 09:27

Grafton Group PLC - Dublin-headquartered building materials supplier and DIY retailer - Says consultation with shareholders following its annual general meeting in May shows some are concerned about Grafton's record on environmental protection and gender diversity. Consultation was launched after 21% of shareholders voted against the re-election of Michael Roney as non-executive chair.

In response, Grafton says it is committed to delivering net zero carbon emissions by no later than the end of 2050, which is 27 years from now. It will set science-based targets by the end of next year. Grafton also notes that three of eight board members, or 38%, are women, and it plans to meet a target of 40% by 2025.

On Thursday last week, Grafton reported results for the first half of 2023. Pretax profit was GBP93.6 million, down 29% from GBP132.4 million a year before, as operating expenses outpaced revenue by 6.3% to 3.2%.

Current stock price: 883.30 pence, up 2.1% in London on Monday

12-month change: up 23%

By Tom Waite, Alliance News editor

Comments and questions to [email protected]

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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