TRAVIS PERKINS PLC INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2012
SUCCESSFUL TRADING STANCE IN TOUGH MARKETS, GENERATING IMPROVED OPERATING MARGIN BEFORE PROPERTY PROFITS AND STRONG CASH GENERATION; INTERIM DIVIDEND UP 23%
FINANCIAL HIGHLIGHTS
- Group revenue up 2.7% at £2,412m, down 0.7% on a like-for-like basis
- Before property profits adjusted EBITA, up 9.7% to £151m, adjusted PBT up by 7.3% to £137m, and adjusted EPS up 10.7% to 43.5p (note 13)
- Reported PBT after exceptional items up 25% to £162m
- Free cash flow generated of £99m
- Interim dividend of 8p per share up 23%
OPERATING HIGHLIGHTS
- Exceptional Q2 wet weather conditions impacted heavy-side business
- Gross margin before synergies increased by 0.5%
- Continuing market share gains across our business
- Tight cost control, like-for-like overheads flat
- Acquisition of Toolstation completed at an expected total cash cost of £107m
- Heads of terms agreed for investment in Toolstation Europe
