Grafton a safe bet: analysts

Grafton Group shares, seen by analysts as a “safe” share to invest in right now, jumped last week by 5 percent to a new high of euro 32.

The construction company had just reported exceptionally strong figures for the year 2000.

Pre-tax profits were up by 38 percent, and Grafton said it was confident of a good year ahead, an indication that the Irish construction industry is buoyant.

Repairs, maintenance and improvements operations are generally considered to be steady right now.

But Grafton posted only 9 percent growth in its merchanting division, indicating a slowdown in the building of new houses.

Grafton sees itself expanding this year, particularly in the UK.