BSS Group revenue grows

Published:  29 July, 2010

LEICESTER: The BSS Group, which is subject to a takeover bid from Travis Perkins, reported in an interim statement issued today, revenue up 11.5% to £435.3m for the first 17 weeks of the new financial year to 28 July 2010.

Like-for-like costs in the period, excluding one off transaction costs relating to the Travis Perkins' bid, are 2.6% below last year against like-for-like revenue increase of 7%, the company reported.

New branches contributed 1.2% and acquisitions a further 3.3% of group revenue growth.

The Domestic Division revenue increased by 7.6% like for like reflecting selective price increases and better repair and maintenance activity, the company said.

"New revenue streams in spares and renewables continue to show strong growth with revenue up 46% on last year," it said.

The Industrial Division revenue was up 5.0% helped by price inflation on steel. July and August are key months with repair and maintenance activity in factories and schools at peak levels and "summer maintenance season has got off to a solid start" said BSS in its statement.

BSS said performance of UGS, acquired in February for £5.2m, was "encouraging" with the business now back into profit.

The Specialist Division reported like-for-like revenue up 8.5% against depressed manufacturing and construction sectors. "The gross margin trend is now positive following selective price increases, purchasing benefits and revisions to trade terms," it said.

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