Stocks with exposure to the Irish economy remain in demand, among them builders' merchants and DIY group Heiton Holdings. Both NCB and Davy have recently released positive notes on the company in which they anticipated further growth and further increases in the share price.
NCB Stockbrokers says the stock is a buy at 232p per share, while Davy also sees upside in the shares.
The company reported half-year pre-tax profits of £5.7 million, a 23 per cent increase from the £4.65 million recorded in the first half of 1996 while group turnover increased by 17 per cent to £84.2 million.
Although both brokers left their forecasts for the current year unchanged, Davy has upgraded the expected results for the year to April, 1999 by 6 per cent to reflect a more optimistic view on construction output and margins this year.
Meanwhile, NCB says it expects earnings to grow by 27 per cent in the 1998 financial year and by a further 15 per cent in 1999.
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