DERS’ Merchant Travis Perkins posted a jump in first half profits on the back of improving market conditions and increasing customer confidence.
The owner of Wickes, City Plumbing and Tile Giant said pre-tax profits rose by 19.4 per cent in the six months 30 June to £162.5m and increased its interim dividend by 22.5 per cent to 12.25p.
Its core general merchanting division, which trades as Travis Perkins and supplies tradesmen with repair and maintenance products, reported a 15.3 per cent rise in sales.
Plumbing and heating revenues improved by 8.4 per cent while sales to consumers through stores such as Wickes rose by 8.8 per cent despite fierce discounting in the bathroom and kitchen market.
Travis Perkins have benefited from the upturn in building activity and housing transactions.
Chief executive John Carter said: “With lead indicators in our different markets encouraging, the Group is expected to show continued solid growth for the remainder of the year.”