Travis Perkins share price: Full-year results out
Travis Perkins (LON:TPK) has this morning released its full-year results.
*Highlights from the company statement:**
Revenue increased by 8.4% to £5.6bn, with like-for-like sales up by 7.3%; Adjusted earnings per share increased to 119.0p, up 14.9%; Final dividend of 25.75p giving a full year dividend of 38.0p, up 22.6%; Gross capital investment increased by £58m to £165m funded from cash flows to drive on-going share gains and sustainable growth; 54 new sites opened with a further 47 implants added to the network
Acquisition of Primaflow, a plumbing and heating distribution business for £16m
ohn Carter, Chief Executive, commented:
“Whilst it is still relatively early in the recovery of the UK construction industry, the new housing market, new commercial and industrial markets and the repair, maintenance and improvement market (“RMI”) have been performing largely as we expected. As we expected the key lead indicators have settled into a still positive, but more moderated and consistent trend. This backdrop allied to our “self-help” growth initiatives should support on-going market share gains, medium-term double digit operating profit growth and continuing growth in return on capital.
We have seen encouraging progress in the majority of our businesses during the first year of implementing the Group’s updated strategy. Our key priorities remain on modernising General Merchanting, transforming Wickes and reconfiguring our plumbing and heating businesses to better suit their customers’ needs. Structural advantages in sourcing and supply chain allied to superior ranges, availability and value propositions should enable the Group to sustain market outperformance and give us confidence in the Group’s prospects for the foreseeable future.”
As of 07:25 GMT, Tuesday, 03 March, Travis Perkins plc share price is 2,025.00p.