Travis Perkins says it will report better than expected half-year results due to a continued strong rebound in trading.
Cief executive Geoff Cooper also said the company was planning to recommence dividend payments – 5p per share when full interim results are released on July 29.
In a trading update, the company said the rebound has continued throughout the remainder of the first half of 2010, with group revenue up by 4.7%, with like-for-like sales increasing by 3.4%.
In the merchanting sector, like-for-like sales in the last two months are 10.3% ahead. For the six months ended June 30, like-for-like growth was 5.3%, but gross margins remained slightly lower than last year.
“Current trading continues to be ahead of management expectations and we now have the confidence to contemplate recommencing paying dividends,” said Mr Cooper.
