Building materials group, Grafton, told the stockmarket today that trading in both Ireland and Britain is in line with expectations.
Like-for-like sales growth continued during the second half of 2004. Turnover for 2004 exceeded €1.87 billion .
Grafton's latest acquisition Heitons has performed strongly in the six months up to October 2004 and profits are ahead of expectations, the group said.
Grafton completed 17 acquisitions in Britain during 2004 for a total consideration in excess of €69 million.
The Heiton acquisition should add almost €700 million of turnover to the group during 2005 and increase the branch network by over 80 trading locations.
During 2004 Grafton developed 12 merchanting outlets, 3 Woodie's DIY stores and a dry mortar plant in Southampton added a further 16 branches bringing the total network of outlets to over 430 locations in Ireland and Britain. Further organic growth is planned for 2005, the group said.