Travis Perkins has seen a boost thanks to the weather
THE outgoing boss of builders’ merchant group Travis Perkins has signalled a turnaround in the struggling construction industry.
Geoff Cooper, who is retiring next March, said the market picked up in April on the back of government moves to boost the housing market, such as mortgage scheme Help To Buy.
Travis had a tough start to the year as wet weather hit sales but things improved considerably in May and June as warmer weather sparked more building projects and DIY.
He said sales at the group, which owns DIY chain Wickes and Toolstation as well as its traditional builders’ merchant business, had improved across the board.
Cooper, who will hand over to deputy John Carter, said: “All indications are that the construction market will get moving again.”
Half-year underlying group profits rose 4.1 per cent to £136.1million. First half revenue at Wickes fell due to the wet weather in the first four months of the year but rose 8.6 per cent in the past eight weeks while profit in its consumer division, which includes Wickes, Toolstation and Tile Giant, lifted 7.3 per cent to £29.5million.
Shares fell 9p to 170½p