Travis lifted by construction pick-up

TRAVIS Perkins, Britain’s biggest supplier of building materials, yesterday revealed that its performance had been boosted by an increase in construction activity, on the back of Government initiatives to stimulate the housing market.

By The Newsroom

Published 18th Oct 2013, 01:01 BST

The group also said it was on track to meet analysts’ consensus forecast for earnings per share of 100p in 2013 despite lower gains from property disposals.

Chief executive Geoff Cooper, who is stepping down from the top job in January, said: “The recovery in activity, signalled by us in early 2013, looks set to continue into 2014 as owners’ and occupiers’ construction and maintenance activity increases from the very low levels encountered over the last five years.”

The number of property transactions in Britain is growing and mortgage approvals are ahead of last year as the Government’s Help to Buy mortgage scheme starts to kick-in.

Travis said sales at outlets open over a year rose 6.3 per cent in the three months to September 30.