Building materials group Grafton says its profits for the first half of the year will be ahead of market expectations as a result of continued favourable trading conditions both in Britain and in Ireland.
In a trading statement issued this morning, the group said it had continued to experience favourable trading conditions in Britain and Ireland during the first half of the year.
This has been reflected in good sales growth, in addition to strong integration-led growth in Britain.
Grafton said turnover would be over 20 per cent up on the same period last year. Sales growth in Ireland has benefited from the recent spell of fine weather and both Irish Merchanting and Woodie's DIY turnover improved.
Woodie's DIY new flagship store on the Naas Road opened successfully over the June Bank Holiday weekend, bringing the Woodie's store network to 18.
Group operating profit before goodwill amortisation for the half year is anticipated to increase by over 25 per cent on the same period in 2003.