Travis Perkins profit edges up 0.2% in H1
Travis Perkins said on Wednesday that is operating profit increased 0.2 per cent to £156 million in the first half of the year. The builders merchant reported a rise in revenue of 5.4 per cent to £1,671 million.
First Great Western to invest £29 mln in service improvementsThe firm said its results had been helped by tight cost control and strong cash generation.
The company said that it had maintained its interim dividend at 14.5 pence per share.
Geoff Cooper, Chief Executive of Travis Perkins, said, "As we anticipated and observed in our last full year results statement, 2008 has become a more challenging market and we expect our markets to weaken further as the year progresses."
Cooper continued, "The Group will also continue to take action to counteract market conditions and accelerate the reduction on net debt through a combination of lowering overheads and by reducing both working capital and constraining capital expenditure.
"Whilst the outlook is more challenging than we have experienced for some years, we have the management and resources to deal with these difficulties and position the Group for further growth when more favourable conditions return."
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