Building supplies group Grafton today announced an increase in pre-tax profits of 32 per cent for 2005.
Chairman Michael Chadwick said profits had advanced significantly in Ireland, although conditions remain competitive especially in the DIY sector.
This was the Group's fourteenth consecutive year of record results.
Adjusted earnings per share before amortisation of intangibles and property profit were 67.8 c for 2005, up by 21 per cent over 2004.
Grafton Group plc reported strong growth in sales for 2005, up by 40 per cent to €2.63 billion. The year also marked the completion of the Heitons acquisition, which contributed €48.8 million to Group operating profits.
Overall, operating profits increased by 35 per cent to €215.9 million for the year, while cash generated from operations was up 26 per cent to €224 million, from €178 million in 2004.
Strong economic growth in the State helped provide for record levels of residential construction. The Irish businesses accounted for 39 per cent of Group turnover and half of Group operating profit for the year.
Trading conditions in the UK weakened as the second half developed and overall UK profit for the year was in line with 2004.