Travis Perkins profitable but cautious

Travis Perkins PLC, the company behind Wickes as well as an own-brand builders’ merchant, has announced a rise in in annual profits – but it remains cautious about the home improvement market.

The company, which operates more than 600 stores in the UK, has reported underlying profits of £216.7 million for 2010, up 20 per cent on the previous year.

It says activity is still well below its peak, and predicts a gradual recovery taking hold more quickly in the trade sector than the retail sector.

Additionally, it says that all its DIY and home improvement businesses increased their profits and grew faster than rivals last year.