UK's Travis Perkins posts half-year profit rise on price hikes
Travis Perkins Half-Year Financial Performance Overview
Profit Growth Driven by Price Increases
Aug 4 (Reuters) - British building materials supplier Travis Perkins reported a 6.3% rise in half-year adjusted operating profit on Tuesday, buoyed by price increases and cost-saving measures in a depressed construction market.
Revenue and Market Conditions
Subdued Trading Outlook
The company said that it expects trading in the second-half to remain subdued and be similar to the first. Revenue in the six months ended June 30 fell 1.8% from a year earlier.
Margin Pressures and Pricing Strategy
Offsetting Softer Demand
Travis Perkins has introduced price increases to offset margin pressures amid softer demand and increasing cost pressures.
Reporting Credits
(Reporting by Simone Lobo in Bengaluru; Editing by Mrigank Dhaniwala)
