While its main tiling and shower businesses faced challenging conditions, the group pushed through a 4.6% increase in trading profit and a 75.7% increase in profit before tax and exceptional items on a 3.4% increase in turnover.

The group said it enjoyed a robust performance despite the knock-on effects of the credit crunch.

"In the UK, our businesses were faced with the knock-on effects of the so-called 'credit crunch' and, in particular, with downturns in the housing market, consumer confidence and spending."  Meanwhile increases in energy costs continue to have a direct impact on the group's operations, it said.

Its recently launched UK adhesive business continued to make very good progress, the group added.