StockMarketWire.com - Builders merchanting and DIY group Grafton said it had completed the sale of its Belgian merchanting business.

The completion came after the company in late August announced that it had entered into a conditional agreement for the sale.

The decision to sell the business was consistent with 'our strategy of orientating the group towards structurally higher margin businesses with good long term growth prospects and the potential to generate more sustainable returns and optimise shareholder value,' the company said in a previous statement.

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