LONDON (dpa-AFX) - Travis Perkins plc (TPK.L), a British builders' merchant, Tuesday reported profit before tax of 15.6 million pounds for the first half, significantly lower than 85.7 million pounds in the same period a year ago, mainly on lower revenue and operating profit.
Operating profit declined to 37.7 million pounds from 106.9 million pounds last year. The company had adjusting items of 32.2 million pounds for the latest 6-months period.
Excluding one-time items, adjusted operating profit decreased to 75 million pounds from 112 million pounds a year ago.
Net profit was 4.7 million pounds or 2.2p per share, down from 60.2 million pounds or 28.2p per share in the previous year.
Adjusted earnings per share was 15.9p, down from 30.5p a year ago.
Revenue for the period dropped 4.4 percent to 2.362 billion pounds from 2.472 billion pounds last year.
The Board has proposed an interim dividend of 5.5p per share for the year ending 31 December 2024, down from 12.5p per share a year ago, to be paid on November 8, to shareholders on the register on October 4.
Looking ahead, the company sees full-year adjusted operating profit to be around 150 million pounds, including 16 million pounds of losses related to Toolstation France.
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