Heiton profits up 3% despite UK problems

Irish building materials group Heiton Holdings said today its annual pre-tax profit before exceptionals rose 13

Irish building materials group Heiton Holdings said today its annual pre-tax profit before exceptionals rose 13.2 per cent to euro 22.2 million.

The increase came despite a series of problems that beset its British arm.

The company said its British operations had undergone sweeping management change and faced disruption from a range of events including flooding, a fuel strike and foot-and-mouth disease.

In a separate announcement, Heiton said chief operations director for Ireland Mr Rory O'Mahony was resigning from the company effective from August 31st to pursue private business interests but would remain on the board of directors until January.

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The company said group turnover was up 15.8 per cent to euro 369.2 million, and adjusted earnings per share were up 19.9 per cent to 40.2 cents.

"It has been another year of double digit growth . . . with strong results achieved in all of ourIrish operations," chief executive MrLeo Martin said in a statement.