Travis Perkins reveals sales boost - graduate jobs

Graduates with architecture and construction-related degrees may not be facing doom and gloom in their sector after building merchants and DIY retailer Travis Perkins announced results for the first six months of the year exceeded management expectations.

The company, which owns Wickes, said sales for the first half to June 30 rose 3.4%.

It also revealed it is to start paying out on dividends for the first time in two years following the positive results.

The Northampton-based business revealed like-for-like sales in merchanting had risen 10.3% in the past two months.

It said the boost had been helped by housebuilding and maintenance activity slowly recovering from a low base earlier on in the year.

Conditions are tougher at the Wickes DIY chain but same-store sales are also on an improving trend, lifting 1.6% in the past two months compared to a 0.4% decline over the first half as a whole.

Travis is also targeting growth through acquisitions and expects to update shortly on its planned £553 million takeover of plumbing specialist BSS.

The BSS deal would be the largest undertaken by Travis since the £950 million Wickes takeover in 2005.

Analysts raised full-year profit forecasts from £195 million to £210 million following the update.

Numis analyst Howard Seymour said: "News that merchanting is the key driver of the upgrade is important, as this is the lion's share of the group.