The Travis Perkins plc Board has declared an unchanged interim dividend of 12.5 pence per share. The dividend will be paid on 10 November 2023 to shareholders on the register at the close of business on 6 October 2023. The Company's shares will go ex-dividend on 5 October 2023. The Company operates a Dividend Reinvestment Plan, elections for which must be received by the Company's registrar by 5.30pm on 20 October 2023.
Other financial highlights include:
- Revenue of £2,472m down (2.5)% and adjusted operating profit of £112m down (31)% reflecting weak market volumes in private domestic RMI and new build housing
- Adjusted earnings per share of 30.5p down (41)% resulting from lower trading profit, phasing of property profits and the increase in the UK corporation tax rate
- Strong cash conversion at 105% driven by tight working capital management
- Lease-adjusted leverage (net debt / EBITDA) of 2.1x due to lower earnings and increased lease commitments. Net debt before leases reduced by £32m during the half.
- Full year adjusted operating profit expected to be around £240m