Irish building materials group Grafton today said it expected 2005 earnings to be in line with market estimates for basic earnings per share of 66 cents - a 19 per cent rise on 2004.
"The group benefited from a continuation of a favourable operating environment in Ireland that compensated for weaker trading conditions in the UK during the second half of the year," Grafton said in a trading statement.
It said it expected difficult conditions to continue in the UK for the first half of 2006 and anticipated a shortfall in like-for-like sales compared with sales in the first six months of 2005.
However, prospects for the second half were more favourable.
In Ireland, Grafton expected to benefit from buoyant trading conditions and good like-for-like merchanting sales growth throughout 2006.
The company said group turnover for 2005 exceeded €2.6 billion. Last year, Grafton posted turnover of €1.9 billion and earnings per share before goodwill and property profit of €55.64 cents.