Travis Perkins plc (TPK.L), a British builders' merchant and home improvement retailer, Tuesday reported profit before tax of 70 million pounds for the full year, lower than 245 million pounds in the previous year reflecting lower volumes, overhead cost increase and commodity price deflation.
Excluding one-time items, adjusted profit before tax dropped to 140.5 million pounds from 255.5 million pounds last year.
Net profit decreased to 38.1 million pounds or 17.8p per share from 192.2 million pounds or 89.2p per share a year ago.
Adjusted profit was 96.3 million pounds or 45p per share, down from 200.1 million pounds or 92.9p per share last year.
Revenue for the year declined to 4.862 billion pounds from 4.995 billion pounds in the previous year.
The company has recommended a final dividend of 5.5p per share, to be paid on May 9, to shareholders of record on April 2.
"Management is planning for another year of weak demand, with overhead and cash management actions supporting financial performance," the company said in a statement.
For comments and feedback: editorial@rttnews.com