Irish and UK builders merchants and diy group, Grafton plc, has reported a 10% increase in turnover to over €3.2bn (£2.4m) for the last year.
The company says that the UK economy performed strongly in 2007, although there are signs that growth slowed in the final quarter.

However, it adds that it is in a strong position to cope with an expected slowdown and it should continue to be a market which presents sound growth and development opportunities in the sector.

The group was active on the expansion front in 2007 and completed 14 acquisitions.

The businesses bought have annual sales of more than €100m (£76m) and trade from 32 branches in the UK and one in Ireland. They cost a total of €74m (£55m).

In addition to acquisitional growth, Grafton opened 13 branches in the UK and three in Ireland.