Building supplies and DIY group Grafton said today its earnings this year will be in line with expectations.
In a trading statement released this morning the group that operates the Woodies chain said it has spent €80 million this year on 16 acquisitions in the UK. This has added 27 new branches to its netowrk in the UK bringing its annualised turnover to over €120 million. Sales growth in the UK was in "low single-digits".
Within Ireland the group said underlying sales rose by a high single-digit percentage. It has opened three new Woodie's outlets, a builders outlet, bring the number of trading locations to over 520.
Grafton said it had sold off more property in the second half of this year and would make profits of €33 million from these deals.
The group said it was looking at brownfield site development in the UK and new DIY store openings for 2007.