Travis Perkins year profit jumps 37 per cent

BUILDERS’ merchant and home improvement retailer Travis Perkins posted a better than expected 37 per cent rise in year profit as it won share from rivals and forecast more growth in 2012.

By The Newsroom

Published 22nd Feb 2012, 08:56 BST

The firm, which trades as Travis Perkins, Keyline, CCF, City Plumbing, Benchmarx, Tile Giant, Wickes and BSS, and has branches across Yorkshire, said it made an underlying pre-tax profit of £297m in 2011.

That compares with analysts’ consensus forecast of £287m and £217m made in 2010.

Turnover rose 52 per cent to £4.78bn and was up 6 per cent on a like-for-like basis as the firm gained market share. Like-for-like sales were up 1.8 per cent in the first seven weeks of its new financial year.

Travis Perkins said it expected another year of solid progress in 2012 even though it expects its markets to remain subdued.

The firm, which ended 2011 with net debt of £583m raised its total dividend 33 per cent to 20 pence.