Builders and retail merchant boosted by BSS acquisition last year
Builders’ merchant and retail business Travis Perkins has reported revenue increases of eight per cent to £3.1bn.
Excluding the extra income brought on when it bought plumbing and heating group BSS for £624m last year like-for-like income is five per cent.
Profit before tax was also up, 20% to £217m and net debt reduced by £205m before the BSS acquisition.
While Year end debt was £774m.
Chief executive Geoff Cooper said: “Over the last four years we have seen three clear turning points in the course of the recession in construction markets - a sharp downturn, a return to stability in activity at low levels, and a gradual but choppy recovery, which still has a long way to go. At each turn we decisively adapted our stance to trading, investment and cash.
“We took costs out rapidly and decisively at the downturn, put more investment back in as the market stabilised, and, of course, committed to a major acquisition as growth returned last year. These actions mean we are now positioned with a larger footprint in the sector, a leading position in Plumbing and Heating to add to our longstanding leading position in heavyside and timber, and with our branch network intact having seen closures elsewhere.”