Barratt, Galliford give hope to market

Barratt, Galliford give hope to market Building materials giant Travis Perkins forecast solid progress in 2012, after reporting a 37 per cent rise in full-year profit to £297m. Travis Perkins, also a home improvement retailer, said it expected its markets to remain tough in 2012. Turnover rose 52 per cent to £4.78bn, up six per cent on a like-for-like basis. "Whilst the private sector is growing quite healthily, the amount of activity that it is creating is not quite enough to offset the fall in public sector construction," said chief executive Geoff Cooper. The company forecast a low single-digit decline in trade market volumes, reflecting a fall in the number of housing transactions in 2011 and a contraction in public sector expenditure as the government moves to cut its budget deficit. Travis Perkins, whose brands include City Plumbing, Keyline, Tile Giant and Wickes, also predicted a more substantial decline in the consumer sector. Barratt, Galliford give hope to market Trade News selected by Local Linkup on 24/02/2012