Heiton Group, the Irish-based builders and timber merchant, has announced sharply improved profits and plans to develop its UK business in the RMI and garden products sectors.
The company yesterday reported pre-tax profits ahead 29.7% for the year to the end of April at €28.8m on sales up 5% at €503m.
Chief executive officer Leo Martin attributed the improvement to the strong Irish economy and healthy construction and RMI markets in both Ireland and the UK.
He said that the company’s performance had been boosted further by restructuring of its Trade UK arm, which includes the Cooper Clarke and Willis builders merchant businesses. A loss of €200,000 in the UK in the previous 12 months was turned into a profit of €1.6m in the latest financial year.
Mr Martin said that the UK operation was now “developing new businesses in the UK landscaping and gardening sectors which will increase the division’s exposure to the growing RMI market”.
He also said that the company was looking at other routes for growth in the UK through “greenfield expansion and acquisition”.
More details to follow.
