Grafton earnings on target

Builders providers Grafton has said earnings for 2006 are expected to be in line with market expectations.

To date this year, 16 acquisitions have been completed in the UK (nine since the end of June 2006) for a total of about €80m. These acquisitions have added 27 branches to the group’s network in the UK and had an annualised turnover in excess of €120m.

The expansion of the group continued with the opening of six new builders merchants, six new plumbers merchants and a ninth dry mortar plant in the UK.

In Ireland, the group opened three new Woodie’s DIY superstores, one builders merchant and a new In-House outlet. The new branches bring the number of group trading locations to more than 520.

Grafton said today: "Further organic growth is planned for 2007 with the development of brownfield locations in the UK and new DIY store openings in Ireland. In addition, the group continues to evaluate a healthy pipeline of potential acquisitions."