Grafton reports 32% rise in pre-tax profits

Building supplies group Grafton has posted a 32% hike in pre-tax profits for the year to December 2005.

The figures rose from €145.8m to €192.2m and were accompanied by a revenue increase of 40% - up to €2.63bn from €1.87bn.

This is the group's fourteenth consecutive year of record results.

The group said it also marked the completion of the acquisition of Heiton.

Grafton's 21% rise in 2005 earnings benefited from a strong Irish economy and a newly-acquired business.

Earnings per share, before amortisation of intangibles and property profit, for the year to the end of December rose to 67.8 cents from 56.1 cents a year earlier.