- Increased full-year guidance to “at least £310m of adjusted operating profit”.
- Interim dividend reinstated at 12p per share.
Building materials supplier Travis Perkins (TPK) is benefiting from the release of built up demand in the repair, maintenance and improvements (RMI) market. Like-for-like revenue from continuing business was up 44.1 per cent compared to 2020 and 14.5 per cent against 2019 driven by “both domestic and commercial RMI”. Travis’ medium term prospects are dependent on whether this building improvement trend is a short-term surge due to the pandemic or a more permanent change in household behaviour.