Travis Perkins profit up 20%

Travis Perkins has seen pre-tax profits rise almost 20% in a strong set of annual results.

Turnover at the builders merchant group rose 12% to £3.18bn from £2.85bn in 2006. Pre-tax profits hit £261m in 2007, a 19% rise from last year’s total of £220m.

Travis Perkins has been carrying out an aggressive expansion scheme during the last financial year, opening 75 branches of its seven brands: Wickes, Travis Perkins, Keyline, City Plumbing Supplies, CCF, Benchmarx, and the newly-acquired Tile Giant.

Geoff Cooper, chief executive, said: “With like-for-like performance ahead of market, superior operating margins to any comparable operator and a full pipeline of opportunities to expand further, we are well placed to continue our progress in what we expect to be a more challenging market in 2008.”