Travis Perkins (LSE:TPK) PLC produced bumper first-half numbers as building and maintenance activity roared back as the UK economy reopened.
Now shorn of Wickes, which was demerged in April, revenues jumped by 38% to £2.3bn in the six months to end June 2021 and were almost 11% higher than the comparable period in 2019.
Toolstation and the merchanting division both grew revenues by around 38%, with merchanting up by 48% on a like-for-like basis as domestic RMI (repairs, maintenance, improvement) demand bounced back from the lockdown period.
Operating profits meanwhile jumped to £164mln, compared to £17mln a year ago.
Nick Roberts, chief executive, said he was delighted with the performance and that while there was still some uncertainty over inflationary pressures and supplies, the end markets for its-trade focused businesses remain robust.
As a result, Robers said he expects adjusted operating profit for the continuing business to be at least £310mln for 2021 as a whole.
The interim dividend has been restored at 12p per share after being suspended last year and this will be around 30-40% of the full-year payment, said the statement.