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Debt-free Gibbs & Dandy set to buy

Finance

GIBBS & Dandy, the Luton-based builders merchant, is planning a shopping spree.

The group, which has posted a 17 per cent increase in interim earnings, is looking for acquisitions after wiping outs its debts.

Pre-tax profits in the six months to June 30 2001 were £1.23 million compared with £1.05 million at the half-way stage last year.

Turnover rose just 9 per cent to £23.9 million, from £21.9 million in 2000, after the exceptionally wet start to this year depressed sales.