Travis Perkins plc has seen turnover rise by 11.9% on last year to £913.6m in the six months to June 30.

Operating profit before amortisation of goodwill stood at £109.33m – up from £94.8m in 2003.

Chief executive Frank McKay said “Strong performance in the first half has been driven by a combination of organic improvements and increased contributions from acquisitions, particularly the recently acquired plumbing and heating businesses. At the same time buying and overhead efficiencies have benefited the whole business.

“A record number of small acquisitions together with brownfield openings and significant capital expenditure on branch upgrades sees us well placed for the future.

&#8220Over 240 branches have now achieved chain of custody accreditation and more will do so during the rest of the year ”

Travis Perkins chief executive, Frank McKay

“It remains to be seen what effect higher interest rates and the slow down in house price inflation may have on consumer confidence. However, with the increased investments made from our strong free cash flow we are in a good position to make further progress.”

Mr McKay said Travis Perkins had pushed ahead with its environmental improvement programme and has had success with its programme of increasing the raw material content of its timber products originating from certified forests.

“The most notable of these has been the introduction of a large volume of Forest Stewardship Council certified Brazilian softwood plywood. Over 240 branches have now achieved chain of custody accreditation and more will do so during the rest of the year,” he added.