Building materials company Grafton posted a 23 per cent rise in earnings per share today, slightly above forecasts, helped by acquisitions and good market conditions in the UK and Ireland.
Grafton said earnings per share, before goodwill and property profit, for the year to the end of December rose to 55.64 cents compared with 45.07 cents a year earlier.
Pre tax profit climbed 29 per cent to €131.9 million on the back of a 25 per cent rise in turnover to €1.9 billion .
In a January trading statement, Grafton said 2004 sales and profits in Ireland and Britain were in line with expectations. At the time, analysts said they were impressed Grafton was able to make acquisitions in the UK while securing its purchase of Heiton in Ireland during the second half of the year.