Travis Perkins Plc (TPK.L) Tuesday said that its first-half profit was higher from a year ago, due to the absence of adjusted items related to restructuring and branch closures incurred during that period.
The company, while providing outlook for fiscal 2025, also lowered its interim dividend for the first half by 18 percent from last year.
The British supplier of building materials posted profit of 26.4 million pounds or 12.4 pence per share in the first half of the year, higher than 4.7 million pounds or 2.2 pence per share in the same period last year.
On an adjusted basis, profit declined to 28.1 million pounds or 13.2 pence per share during the half-year period from 42.0 million pounds or 19.6 pence per share in the prior-year period.
During the first six months, pre-tax profit climbed to 37.1 million pounds from 26.6 million pounds in the year-ago period.
According to Travis Perkins, half-yearly revenues declined 2.1 percent to 2.30 billion pounds from 2.35 billion pounds in the simultaneous period of fiscal 2024, impacted by operational challenges in the beginning of the year.
The company's Board has recommended an interim dividend of 4.5 pence per share, 18.2 percent lower than the interim dividend of 5.5 pence per share in the same period last year. The dividend will be paid on November 7 to shareholders on the register as at close of business on October 3.
Separately, the company said that Gavin Slark will join as Chief Executive Officer or CEO, with effect from January 1, 2026. This follows the departure of Pete Redfern in March 2025.
Looking ahead, Travis Perkins expects fiscal 2025 adjusted operating profit broadly in line with current market view of between 135 million pounds and 148 million pounds. This guidance is inclusive of 8 million pounds of property profits.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.