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Growth for Travis Perkins

29 Jul 11 The acquisition of BSS last December has helped builders merchant Travis Perkins add more than £800m in revenues for the first six months of the year and an extra £30m in operating profits.

Travis Perkins’ revenues for the six months to 30 June 2011 were up 54% on the same period last year to £2.35bn. Adjusted operating profit was up 25% to £150.1m and pre-tax profit was up 20% to £129.2m.

The company paid an eventual £800m for plumbing supplies group BSS last year in a deal that completed in December. The organisational and systems integration of BSS is progressing smoothly, the company said, and it is ahead of schedule in its target of delivering £25m of annual synergy benefits. 

In May, Travis Perkins also acquired 13 properties from the administrator of Focus for £8m.

Chief executive Geoff Cooper said: "The difficult market backdrop will continue to put pressure on weaker competitors and will lead to further consolidation in our markets, particularly in merchanting. We are now the largest provider of building materials in the UK, and we have market-leading customer propositions that are delivering further gains in market share.  We also have an excellent track record of outperforming our market and driving financial performance over a sustained period and consequently look forward to the future with confidence.  Our outlook for the full year remains unchanged with a weaker trading pattern being offset by our achieving BSS synergies earlier than expected."

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