Company results are boosted by expansion of branch networks as pre-tax profit rises to £128m

Builders merchant Travis Perkins has reported a 17% increase in interim pre-tax profit to £128.6m.

Turnover for the six months to 30 June rose 12% to £1.6bn, up from £1.4bn in the corresponding period last year. The company’s results were boosted by an expansion in its branch networks.

Geoff Cooper, chief executive, said: “The performance of the group in the first half of this year has been strong. While we remain cautious about market prospects due to the potential impact of increasing interest rates on both new and secondary housing markets and weakening consumer confidence, the strong all-round performance of the group leaves us confident of further financial progress in the second half year.”