Profit increase for Travis Perkins
29 July 2010
Builders' merchant Travis Perkins has reported a 24% profit increase for the first half of 2010, including a 6% rise from its merchanting division.
The group recently acquired the BSS Group for an estimated £558 million in the first part of its expansion process.
Travis Perkins has also confirmed that it will resume dividends payment, citing its "prospects, the strong first-half trading performance and strong cash generation".
It said its merchanting businesses, which include City Plumbing Supplies and Keyline, have also experienced recovery in their markets having "grown their revenues on a like-for-like basis". Its ToolStation brand showed a like-for-like sales increase of 50%.
The company recently launched stockist brand City Heating Spares as trade counters in branches of City Plumbing stores. Travis Perkins said it plans to "recruit and train more spare parts experts" for the new brand.
Bookmark with