Builders Merchants Travis Perkins has reported a “strong rebound” in a trading update for the six months since 31 December 2009.
A pick up in trading during the first two months of the year has continued through the remainder of the first half, the firm said, and it expects results for the six months to 30 June 2010 to be ahead of management expectations.
“Group revenue for the six months ended 30 June 2010 was up by 4.7%, with like-for-like sales up 3.4%,” the trading statement said.
For the reporting period, Travis Perkins' Merchanting Division revenue increased by 6.1%, a 5.3% like-for-like improvement on the same period in 2009.
Gross margins are slightly lower than last year.
Revenue for its Retail Division increased by 2.1% over the first half of 2010.
Geoff Cooper, chief executive, said: "We are pleased with the overall progress the Group has made in the first six months of the year. Current trading continues to be ahead of management expectations and we now have the confidence to contemplate recommencing paying dividends. We expect to give an update on our discussions with The BSS Group shortly."