Rain taints Travis Perkins potential profits

Building materials supplier Travis Perkins has revealed that heavy rain in the early months of the summer had a major impact on trading, costing an estimated £10m in potential profits.

Despite this, the business reported a pre-tax profit of £161.8m for the six months to 30 June 2012, up from £129.2m for the same period last year. Meanwhile revenues grew by 2.7 per cent to £2.41bn, a 0.7% decline on a like-for-like basis.

Travis Perkins chief executive Geoff Cooper said: “Whilst weather patterns normally average themselves out over any trading period, it has been difficult to ignore the impact on the results of the first half trading of the wettest three months since records began.”

“This has inhibited construction activity and particularly constrained turnover in our heavy-side related businesses in a market already struggling to recover to more normal levels.”

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