Building materials company and DIY specialists Grafton has reported pre-tax profits of 106.4 million euro, 18% up on last year.

Grafton's total revenue has risen by 13% to 1.6bn euro and adjusted earnings share rose by 18% to 39.1%.

Grafton’s Irish turnover increased by 6% to 628.8m euro with operating profit also increasing by 6% to 60.6m euro.

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Executive Chairman Michael Chadwick said: “The growth in sales, profits and earnings derives from a strong performance in the UK business and solid profit growth in Ireland.

“In the UK this was supported by good underlying demand in the RMI market and contributions from acquisitions.”

Grafton said the Irish economy continued to grow strongly in the period, though there was a moderation in new house building.

It also said repair, maintenance and improvement (RMI) spending was strong, supported by the strong economy and maturing SSIA money.

The company also trades in the retail sector under the names Woodies DIY, Atlantic Homecare and In-House at the Panelling Centre.

(JM/SP)