Sales perk up for Travis Perkins

5 August 2015 - Janet Bird

Sales perk up for Travis Perkins

Builders merchant Travis Perkins has reported a 7.8 percent rise in sales during the first six months of the year.

The company, which also owns the Wickes chain and Tool Station, saw sales climb to 2.9 billion. When new store openings are discounted, the sales increase was 5.7 percent. Pre-tax profits rose to 158.6 million, an increase of 3.2 percent.

The largest division of the company, general merchanting, which supplies builders, saw sales rise 7.8 percent to 979 million at the start of the year, although this slowed somewhat in the second quarter.

While its plumbing and heating arm continued to struggle, with sales down to 667 million - a drop of 0.7 percent - the contracts division, which supplies larger building companies, saw sales soar to 605 million, a rise of 18 percent. The consumer side of the business, which includes Wickes, saw revenues increase to 693 million, up 8.6 percent.

Travis Perkins demonstrated its confidence in the resurgent construction market by raising its interim dividend by more than 20 percent, to 14.75p.

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