The company reported £206m pre-tax profits for last year, the same as 2004, while turnover grew to £2.6bn from £1.8bn.
Group finance director Paul Hampden Smith said the performance of timber and wood products had mirrored other products in the company’s offering.
The company experienced a 1% dip in like-for-like sales per working day, but the size of the business grew by 50% due to a record number of new branch openings, the acquisition of Wickes and productivity gains in merchanting.
Travis Perkins said consumer confidence and spending were weak throughout 2005, reflecting pressure on disposable incomes, while lower transaction levels were seen in the housing market. A slowdown in capacity expansion in both DIY and trade markets was also recorded.
The company said: “We have made a satisfactory start to 2006 with merchanting volumes ahead of expectations. Although there are signs that our markets are likely to recover, we expect the first half year to remain challenging, with any recovery coming in the second half year.”
