Building materials supplier Grafton has made a good start to the year in its Irish and British operations and is confident of meeting forecasts for 2003, shareholders at its AGM heard today.
Grafton said its UK merchanting businesses have shown strong acquisition led growth together with increases in like for like sales in a favourable trading environment.
Jackson Building Centres, which joined the group in March, is trading ahead of expectations and acquisitions made last year are contributing to increased profitability, the company said.
In Ireland, Chadwicks, the building-merchanting business, has improved sales and profitability helped by an increased level of new housebuilding.
The Woodie's chain of DIY stores also reported strong sales growth and has announced a further five new stores as part of its expansion.
Grafton also announced that Mr Norman Kilroy, managing director, will be retiring in April 2004 at age 65. Mr Kilroy has already delayed his retirement at the company's request and will progressively relinquish his responsibilities during the coming year.