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Thu November 14 2024

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Travis Perkins grows 8%

3 Mar 15 Builders’ merchant group Travis Perkins saw its revenues rise by more than 8% in 2014 to £5.58bn and pre-tax profits climb 3% to £321.4m.

There was growth in all divisions except plumbing and heating, which was down just 1% owing to fewer Energy Company Obligation contracts and less demand for new boilers.

The general merchanting business grew its revenues by nearly 14%

Travis Perkins opened 54 new trading locations opened during the year including 33 new Toolstation stores.

Chief executive John Carter said: "Whilst it is still relatively early in the recovery of the UK construction industry, the new housing market, new commercial and industrial markets and the repair, maintenance and improvement market have been performing largely as we expected.鈥

He added: 鈥淥ur key priorities remain on modernising General Merchanting, transforming Wickes and reconfiguring our plumbing and heating businesses to better suit their customers' needs.聽 Structural advantages in sourcing and supply chain allied to superior ranges, availability and value propositions should enable the group to sustain market outperformance and give us confidence in the group's prospects for the foreseeable future."

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