BUILDERS merchant Travis Perkins has shrugged off "challenging" market conditions to post a 7 per cent rise in profits, despite a fall in like-for-like sales at its Wickes showroom business.
The Northampton-based firm made pre-tax profits of £220.3 million in 2006, in line with consensus forecasts and boosted by stronger merchanting sales.
But overall like-for-like sales at Wickes, bought by Travis Perkins for £950 million in 2005, which has a store in Trinity Street, Bolton, fell three per cent over the year.
Trading for the first two months of this year saw like-for-like merchanting sales ahead 5.3 per cent, with a five per cent like-for-like increase in retail sales.
Chief executive Geoff Cooper said the company was well-placed to benefit from gradually recovering levels of consumer confidence, but added that further rises in interest rates could affect the group's performance in the second half of this year.
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