Shareholders in builders' suppliers and DIY company Grafton Group can look forward to growth in sales and profits despite a slowdown in the housing market in Ireland, chairman Mr Michael Chadwick told yesterday's annual meeting.

He said that, despite a slowdown in housing starts and housing maintenance in Ireland, the company expected growth in both sales and profits - albeit at a slower rate - with its UK interests acting as a major contributor.

Grafton has made 29 acquisitions in the last three years.