Grafton Group has posted a modest rise in half year profits despite the slowdown in the economy.
The builders merchant group posted first half to the end of June pre-tax profits of 31.6 million euros, up from 29.4 million euros last time.
Sales were 534.8 million euros, up from 470 million euros.
UK sales in the first half were up 22 per cent. The company says trading conditions "have been less than favourable" in the construction sector.
In Ireland, turnover was down 1 per cent while operating profit before one off costs fell 13 per cent.
"The UK will be the principal driver of the group's growth," the company says. "The outlook to the year end for the Irish market is similar to the first half.
"The construction sector is unlikely to return to growth this year, while Woodie's turnover will benefit from two new DIY stores opened in May and June."
Since June, the group has made three more acquisitions - Lakes, PDM and Noel Clay. It trades from more than 200 bases in the UK.
No interim dividend has been declared.
PA