4th Aug 2015 06:40
LONDON (Alliance News) - Builders' merchant and home improvement retailer Travis Perkins PLC on Tuesday hiked its interim dividend by 20% on the back of a rise in profit driven by stronger revenue and robust like-for-like sales growth.
The FTSE 100-listed company, which runs the Wickes DIY chain along with plumbing and heating and contract merchanting businesses, said its pretax profit for the six months to the end of June was GBP158.6 million, up from GBP153.7 million a year earlier.
Revenue for the group was up to GBP2.94 billion in the half, from GBP2.73 billion a year earlier, as like-for-like revenue grew 5.7%. Travis saw good sales growth in its general merchanting, contract merchanting and consumer businesses in the half, though it saw a small decline from its plumbing and heating business.
Travis said it will pay an interim dividend of 14.75 pence per share, up 20% year-on-year on the back of the strong result and its confidence on its outlook for the second half.
"The group has delivered a strong underlying performance in the first half. our key strategic priorities are unchanged; modernising general merchanting, transforming Wickes and completing the plumbing and heating re-segmentation programme. We continue to anticipate a full-year result in line with expectations and are delivering on our targets, including low double-digit profit growth and sales outperformance of our markets," said Chief Executive John Carter.
By Sam Unsted; [email protected]; @SamUAtAlliance
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