Builders merchant Travis Perkins, parent company to CCF, saw pre-tax profits up 1.1% to £300m for the year to December 31 2012, on group revenue that was up 1.4% at £4,845m.
Geoff Cooper, Chief Executive, said: “Despite continued tough conditions in construction markets, Travis Perkins has made good progress, with increases in overall turnover and profits, continued strong cash generation and further development of our networks and services in the UK and the launch of a small scale trial in continental Europe.”
The group’s statement said that it had seen a gradual recovery in markets. Outlook on a like-for-like sales in quarter 4 of 2012 showed an improving trend on the two previous quarters in most of its businesses. TP anticipates that markets will be stronger in the second quarter of 2013.
Overall TP believes that market volumes for 2013 are likely to be lower than 2012, but the rate of decrease will be smaller than last year. Inflation is likely to stay low with early indications suggesting it will be around 1% to 2% for the second year running.