DIY fans boost outlook for Heiton Group

Building supplies and DIY company Heiton Group has said trade was strong in the second half of its financial year to the end of April.

A robust DIY market was one of the reasons for its upbeat trading statement, released this morning to the ISEQ. A reorganisation of the company into three operating divisions also streamlined its business.

"The group expects to report good progress in profits before tax and adjusted earnings per share growth for the full year," said a spokesperson.

In January 2004, Heiton acquired Paddy Power and Company, a leading heating and plumbing specialist based in the South East of the country.

Meanwhile, the group's store in Galway, which was recently relocated and expanded, is reporting brisk business. Heiton's regional expansion plans have also progressed with the recent signing of a lease agreement for a 54,000 sq ft site in Cork, together with the plans for three new store openings in Tullamore, Wexford and Limerick announced in November 2003.

The results for the year ended April 30, 2004 are due to be announced on July 6, 2004.