Builders merchants group Grafton says results for the first quarter of this year have matched its expectations, despite less favourable trading conditions in Ireland.
In its AGM statement, Grafton said its merchanting business in the UK had experienced strong growth in a favourable trading environment. The UK is now Grafton's most important market.
In Ireland, the company said the weaker construction sector had affected its building materials businesses, though its Woodie's DIY stores continued to perform well, with growth in turnover and profits.
Two new Woodie's stores will open in the summer in Newbridge and Tralee.
Grafton shares closed up three cent at 4.25 in Dublin.
