Builders merchants and DIY specialists Grafton Group have announced solid trading for the first six months of the year to June 30th.
The company's Irish turnover increased by 6 per cent to €628.8 million, buoyed by a strong DIY market here. Operating profit increased by 6 per cent to €60.6 million, up 3.5 per cent on last year. The Irish operating profit margin was unchanged at 9.7 per cent.
The company said it had experienced strong growth in the Irish and UK markets to date despite an easing of new home constructions. This was due to strong repair and maintenance markets in the UK and a robust DIY market here.
The company reported that despite a slowdown in new house builds, the number of house completions in the first half of the year kept the market stable.
The company - which trades in the retail sector under the names of Woodies DIY, Atlantic Homecare and In-House at the Panelling Centre - reported that retail sales increased by 14.4 per cent to €168.2 million.
Grafton's UK business performed strongly in the first half with increased turnover at 17 per cent to €979.4 million - up from €836.5 million last year - and increased operating profits, which increased by 28 per cent to €63.8 million.