Supplier posts strong half year results as merger with Travis Perkins enters home straight
Materials supplier BSS has seen pre-tax profit jump by a third to £27.6m on the last year, reporting half year results today.
BSS said revenues increased by 10.2% to £717m, of which just under half of the increase resulted from acquisitions. The group chairman Peter Warry said he was pleased to be “going out on a high” as the firm said it was on course to complete its sale to Travis Perkins by the end of December.
Warry said the first two months of the second half of its financial year, October and November, had begun well, and that the company had made “considerable progress” in meeting the remedies proposed by the Office of Fair Trading to let the merger go ahead.
Gavin Slark, group chief executive, commented: “BSS has delivered an excellent set of half year trading results, with profit up more than 30% on the prior year.
I am pleased we have remained focused throughout the bid process as all three divisions have picked up momentum and have delivered growth in revenue and profits. BSS is starting to realise its recovery potential.”