Travis Perkins Current Trading Continues To Be Ahead Mgmt Views

2nd Jul 2010 07:11

LONDON (Dow Jones)--Travis Perkins PLC (TPK.LN), U.K.-based builders' merchant and home improvement retailers, said Friday it expects to report a result for the six months ended June 30 ahead of management expectations and added that current trading continues to be ahead of management expectations. MAIN FACTS: -Group revenue was up by 4.7%, with like-for-like sales up 3.4%. -Like-for-like turnover in the last two months is 10.3% ahead in merchanting and in the last nine weeks is 1.6% ahead in retail -Merchanting division revenue increased by 6.1% including like-for-like growth of 5.3%, compared to the same period in 2009. -The increase in like-for-like sales was split 4.5% for General Merchanting and 5.8% for Specialist Merchanting; Gross margins remained slightly lower than last year. -Retail revenue for our retail division, on a delivered basis, for the 26-week period ended June 30 increased by 2.1%, with like-for-like sales declining by 0.4% compared to the same period in 2009. -Wickes continues to gain market share and maintained gross margins over this period. -Anticipates recommencing the payment of dividends; In the absence of unforeseen circumstances, the company expects to declare an interim dividend of 5 pence per share. -Shares on Thursday closed at 709 pence, valuing the company at GBP1.48 billion. -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, [email protected] (END) Dow Jones Newswires July 02, 2010 02:11 ET (06:11 GMT)