Irish builders merchants the Heiton Group improved its market share in the six months to October 31, 2001 with aggressive expansion of its Atlantic Homecare and Panelling Centre arms.
The company reports 60% sales growth from its 12 Atlantic DIY stores, including new flagship outlets at Swords and Liffey Valley. Two further outlets are planned in Dundalk.
Heiton’s four Panelling Centres increased sales by 22%.
Group turnover for the half year increased 17% on the corresponding period in 2000, to €224.8m. Operating profit was down 11% due to economic and sectoral trends coupled with cost inflation.
The group, which has 23 merchant outlets, supplies about 100,000m³ of timber to the Irish market annually – a ‘significant’ portion of overall sales.
However, sale of temperate hardwood to the leisure and hotel related building market has slowed.
Chief executive Leo Martin said new housing growth cooled to about 1% during 2001 but predicted 2-3% growth this year.
A cost rationalisation budget expected to save 2.8m by April includes reducing staff numbers by €114 – through early retirement, natural wastage and some redundancies.
