Rising wood prices and improvements to milling facilities helped boost Travis Perkins‘ timber business over the first six months of 2003.
The company, which recorded an overall 22.4% increase in pre-tax profits to £80.8m, said timber business accounted for about 20% of sales, with engineered timber and decking performing well.
Travis Perkins chief executive Frank McKay said: “Part of the good result is down to timber. We have invested a lot of money in our mills and output and distribution at Aylesford, Canvey and King’s Lynn are significant. That has helped to build our timber business because we are getting the product out to the branches more efficiently.”
The percentage of certified timber has also risen, including a number of hardwood plywood and solid hardwood products certified to Forest Stewardship Council (FSC).
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“Part of the good result is down to timber” |
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Frank McKay, Travis Perkins chief executive |
Chain of custody certification for both FSC and Pan European Forest Certification schemes was achieved by more than 40 branches during the first half of 2003.
Travis Perkins’ overall turnover was up 23% to £816.6m, driven by good weather-related trading, buoyant consumer confidence and good contributions from acquisitions and internal growth. It expects low interest rates to continue to support activity.
The company intends to forge on with its expansion programme through the acquisition of regional groups and independent merchants. It will also develop brownfield sites and make greater efficiencies by ongoing improvements.
