Travis Perkins reports rising profits and branch openings for 2015
Published: 04 March, 2016
Travis Perkins, the builders’ merchant group, has released positive results for the financial year ended 31 December 2015, reporting strong growth amidst a swathe of new branch openings for several of the groups’ businesses.
Revenue increased for the group by 6.5%, partially led by the consumer division that displayed a revenue growth of 8%. Some 40 Toolstation stores opened their doors in 2015, contributing to this growth in the company. Additional openings are in place for 2016.
The greatest revenue increase came with the contracts division, notably driven by Keyline and CCF, which reported sales growth of 13.2% and an 8.5% revenue increase on a like-for-like basis.
General merchanting saw considerable growth as well, with revenue increasing by 5.3% and a total of 12 Travis Perkis branch openings throughout 2015, including some relocations of existing branches. On top of this, the last financial year featured the opening of 38 new Benchmarx branches.
John Carter, chief executive officer of Travis Perkins, said: “The group has delivered a good performance in 2015, despite the weaker than expected RMI market in the second half of the year. We made very good progress on our key strategic priorities; modernising General Merchanting, transforming Wickes and re-segmenting the Plumbing & Heating division.
“The increased capital and operational investments are enabling us to leverage the scale of the business and exploit structural advantages in sourcing and supply chain, driving our continued performance.”
Full details of the results can be found here.