Builders and plumbers merchant group Travis Perkins plc saw its revenue increase by 8.4% in 2014, with only its plumbing and heating division reporting a drop in sales.
Revenue for the Group increased to £5.6 billion, with like-for-like sales up by 7.3%.
Growth was reported in all its divisions except in plumbing and heating, down 0.9% due to fewer Energy Company Obligation contracts and a declining boiler market.
TP’s general merchanting division performed best with revenue improving by 13.7%, with all product categories performing strongly.
Its contracts division recorded revenue growth of 12.1% with a particularly strong fourth quarter, while consumer Revenue was up 8.8% to £1,283m with consistent like-for-like sales growth throughout the year.
John Carter, chief executive, said: “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.
Travis Perkins’ key priorities remain on modernising general merchanting, transforming Wickes and reconfiguring its plumbing and heating businesses to better suit customers’ needs.
Carter added: “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.”
The Group opened 54 new trading locations during 2014, with a further 47 non-spares implants added to the network.
In February 2015, TP acquired independent merchant Rudridge and said the purchase should add around £50m to its revenue.