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Welcome to Travis Perkins' annual report & financial statement for 2004

Financial highlights

• Turnover up 9.0%
• Profit before taxation up 17.0%
• Basic earnings per share up 18.0%
• Adjusted earnings per share up 17.4%
• Dividend per share up 25.0%
• Like-for-like free cash flow (note 32) up 16.9%

Chairman's statement

“We are delighted with the 2004 results, which included a record number of smaller acquisitions and brown-field openings. We have made a good start to 2005, with our trade in the RMI sector ahead of our expectations and our early work confirming our view of the synergies available from the acquisition of Wickes.”

Chief executive's review

“We see significant additional scope for profitable growth of the Travis Perkins, Keyline, CCF and CPS brands through the continued strategy of acquisition of regional groups and independent merchants, and the opening of brown-field sites.

After another year of good progress, we remain confident of our ability to achieve further growth in the future.”