Travis buoyed by trading recovery

Builders’ merchant and Wickes owner Travis Perkins today hailed better than expected first-half results as the firm made a “strong rebound” from a snow-bound beginning to 2010.

The Northampton-based business is also set to recommence dividend payments for the first time in two years after like for like sales rose 3.4% in the six months to June.

The firm’s merchanting business has led the revival with like-for-like sales up 10.3% in the past two months, helped by housebuilding and maintenance activity recovering from a low base.

Conditions are tougher at the Wickes DIY chain but same-store sales are also on an improving trend, lifting 1.6% in the past two months compared to a 0.4% decline over the first half as a whole.

Travis is also targeting growth through acquisitions and expects to update shortly on its planned £553m (€670m) takeover of plumbing specialist BSS.