British Travis Perkins plc expects 2-3% market growth in 2016, after annual pre-tax profit of £224 million in 2015. From the £321m profit in 2014, 2015 brought a 30% decrease, but the adjusted pre-tax profit increased by 5.5%, reaching £382m.
Due to 53 new branches, stores and implants that were added to the network in 2015, the Travis Perkin’s sales increased by 6.5%, reaching £5.9bn, compared to the £5.5bn gained in 2014. Still, the company reported a slow RMI for the second half of 2015, but they’re confident that the market will remain positive and should recover in the first half of 2016.
John Carter, CEO of Travis Perkin, said that they “believe that the growth drivers in our markets remain strong and welcome the return to growth of mortgage approvals and secondary housing transactions in the second half of 2015.”
Also, they expect 5-6% sales growth in 2016, as the RMI has grown during January and February. The company extended ranges of 16,000 products for delivery within 72 hours, due to investments in the distribution network.
In addition, the investments that the company is making to improve customer propositions, optimise the network, exploit scale advantage and efficiently manage the portfolio of businesses provide confidence that Travis Perkin can continue to outperform and improve returns.
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