Increased activity in the home improvement and maintenance markets helped Travis Perkins to £52.3m pre-tax profits in the six months ended June 30 – an increase of 18%.
The number of new housing starts is down but Travis Perkins believes consumer confidence, supported by falling interest rates, remains robust.
Timber and forest product sales were in excess of £250m – 22% of total turnover.
Chief executive Frank McKay said: ‘We continue our drive for growth in our UK network by both acquisition and development of greenfield sites.
‘In addition, we see the opportunity for further organic improvements,’ he said.
Expansion in product specialisation, including timber, would continue.
The integration of specialist timber operation DW Archer was progressing well and widening the product range was being considered.
Operating efficiency improvements at main sawmills has led to greater availability through more on-time and complete deliveries to the branch network.
A total of 19 new branches were added this year through acquisitions and greenfield developments, increasing the network to 492 – a market share of 13.2%. A target of 800 within five years has been set.
