Builders suppliers Grafton said today it remains confident of further growth in the year ahead after posting a 27 per cent rise in full year pre-tax profit to €67.2 million.
Sales in 2001 were up 19 per cent to €988 million, and earnings per share was 33.61 cents, against 26.61 last time.
The company said the pace of economic growth in Ireland has slowed in the construction sector. Housing starts, which began to decline in the second half of 2000, continued to decline throughout 2001.
But Grafton saw recovery in the sector next year as measures announced in the budget are expected to improve investment in the new residential market later in 2002.
READ MORE
"Prospects for continuing growth in the RMI and DIY market are positive." the company said.