Turnover rises 5% to 拢1.5bn as builders merchant looks to complete BSS purchase

黑洞社区 merchant Travis Perkins has reported a rise in revenue and profit, as it continues its attempt to buy up rival BSS.

The firm recorded a 拢1.5bn revenue for the first six months of 2010, which was 5% up on the same period last year. Pre-tax profit was up by 24% to 拢112m from 拢90m in 2009.

A trading statement said: 鈥淥ver the winter our markets continued to show signs of stabilisation and despite a poor, weather-affected, start in January and February the first half-year saw a strong rebound in construction activity, led by a pick up in new housebuilding.

鈥淔rom March 2010 onwards we saw a strong rebound in activity and a reversal in the divergent fortunes of the trade and retail markets. Although the rebound has continued in July, we expect the rate of recovery to moderate.鈥�

At the beginning of the month, Travis Perkins made an offer of 拢658m for rival merchant BSS, which released an interim statement on its trading from 1 April 2010 to 28 July 2010. Over the 17 weeks its revenue was 拢435.3m, up 11.5% like for like from last year and it said the summer maintenance period had got off to a solid start.

The statement concluded that it had recommended the offer from Travis Perkins. Documents are being sent to Travis Perkins shareholders today and a shareholder meeting will take place on 19 August to discuss the deal.

Topics