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TP see good growth but predict challenging 2008

In line with most of the national chains, Travis Perkins’ full year results show strong figures for 2007 but predict a rockier road in the coming 12 months.
The group saw revenue rise 11.9% in the year, reaching almost £3.2bn compared with just over £2.8bn in 2006. However, 3.8% of this growth came from expansion as the group added 75 branches in the period including the acquisition of their seventh brand, Tile Giant .

Operating profit saw a similarly healthy increase to £320m, a 15.1% improvement on the £290m in 2006.

Chief executive Geoff Cooper, commented: “The group achieved strong results in 2007 and accelerated its branch expansion programme. All of our businesses performed well, with both our trade and retail divisions growing their like-for-like sales ahead of market growth rates. This superior performance underlines the attractiveness to customers of our seven trade and retail brands, and enabled us simultaneously to grow market share and to expand our operating margin.”

However, while he expects growth to continue the group is also expecting tougher times. “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.”

About Fiona Russell-Horne

Group Managing Editor across the BMJ portfolio.

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