Building materials group Heiton today reported a 10 per cent fall in pre-tax profits but said it would be seeking further acquisitions to expand its business.
Pre-tax profit was €19.9 million on turnover of €423 million. Turnover rose 14 per cent with an improved performance from the group’s British business where sales rose 48 per cent.
The group said its ongoing restructuring programme is expected to yield annual savings of €2.9 million from 2002/2003.
Mr Leo Martin, group chief executive said: "Against a general slowdown in the Irish economy and construction sector, we have recorded strong growth in a number of our Irish businesses. Our UK business has grown significantly and we are very satisfied with the progress made since the integration of Willis."
Martin said the group will continue to grow all of its businesses through improving efficiencies and through "organic and acquisitive growth both geographically and segmentally".