Turnover grows at Travis

Published:  29 July, 2013

Travis Perkins has reported turnover up 1.6% to £2,449.5m for the six months to end June.

Revenue growth was 0.9% on a like-for-like basis. Profit before tax was up 4.1% to £5m and profit after tax at £106m was down 18.9%. Revenue in the final two months of the half year increased by 7% (6.1% like-for-like).

Geoff Cooper, chief executive, said in a statement: "We anticipated a poor first quarter, however this was exacerbated by the cold weather and Easter. Lead indicators for the remainder of this year, and for 2014, are strengthening, with new housing leading the way.

"All four divisions are making progress with an improving trend in all markets and are flexibly managing volume, gross margin and costs to optimise returns.

"With our management teams' proven ability to select and execute trading tactics matched to market conditions, we are confident of further sales growth and improving returns. Our increasing confidence in this is reflected in the 25% increase in the interim dividend payable in November."

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