TAKEOVER target Heiton was bullish about its future as an independent entity yesterday as the builders’ providers and DIY group reported full-year profits of €28.8 million, an increase of 30%.

BUILDERS merchants and DIY group Heiton yesterday urged its shareholders to reject an approach from Grafton, the owners of the Woodie's DIY chain. The two companies broke off takeover talks earlier this week.

HOUSEBUILDING stocks in Ireland and Britain look extremely cheap at present, according to Davy Stockbrokers, who believe current ratings in the sector all but assume a crash in house prices.

The ISEQ index in Dublin at the close of play jumped 35.85 points today, or 0.76%, to 4751.86 led by CRH and the financials.

HEITON GROUP are expected to report record sales of close to €423m when it unveils its results for the year-ending April 30, 2002, on Thursday.