travis perkins lodge way house harlestone road northampton  nn5 7ug  tel 01604 752 424
travis perkins plc annual report  accounts 2004
tra vis perkins plc
2004
annu al repor t  a ccounts
a leader in builders’ merchanting and home improvement retailing travis perkins
group branches
travis perkins 

Summary:
 results
i am pleased to report pretax profits for the year ended 31 december 2004
of £1904 million an increase of 17 per cent over the £1627 million 
delivered in 2003 turnover at £18286 million was 9 per cent ahead of 
the previous year operating profit before goodwill amortisation of 
£174 million 2003 £153 million was £2182 million compared with
£1914 million in 2003 an increase of 14 per cent
basic earnings per share were up 18 per cent at 1139 pence compared with 965 pence in 2003 adjusted earnings
per share prior to amortisation of goodwill rose 174 per cent to 1291 pence from 1100 pence
dividend
at the half year the board indicated its intention to increase the final dividend to reflect the cash generative nature
of the business and its confidence in the future prospects of the company as a result of the company’s continued
progress the board is recommending a final dividend of 210 pence per share an increase of 25 per cent on the final
dividend of 168 pence for 2003 together with the interim dividend of 95 pence this would give a total dividend of
305 pence per share up 25 per cent on the previous year
board of directors
in december 2004 frank mckay announced his intention to retire from the company in october this year at age 60
during his fiveyear tenure which has included the acquisition of wickes turnover has more than trebled with strong
growth by way of acquisition brownfield openings and organic development doubledigit earnings per share growth
yearonyear a strong dividend progression and an increase in the branch network from 450 to over 900 have been
achieved i am sure shareholders will join me in thanking frank and in wishing him well for the future
geoff cooper joined the board on 1 february 2005 and became chief executive on 1 march 2005 he was previously
deputy chief executive of alliance unichem a £9 billion turnover company that is a member of the ftse 100 index
john coleman became a nonexecutive director of the company in february 2005 he is chief executive of house of
fraser and brings a wealth of retail experience to our board
ted adams and peter maydon have announced that they will be retiring as nonexecutive directors of the company
in december 2005 ted has worked for the group for 33 years initially as finance director of sandell perkins and
then after several promotions as group managing director of travis perkins in 1999 he retired as an executive
director and a short time later accepted the position of nonexecutive director he is widely respected throughout the
tra vis perkins plc
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chairman’s statement
for the year ended 31 december 2004 industry a fact which was recognised when he was elected president of the builders merchants federation
peter maydon has given great service to the company over the past seven years during that time he has been a
member of all of the board committees chairman of the company’s pension trust and latterly he has been senior 
nonexecutive director and chairman of the remuneration committee on behalf of shareholders i would like to thank
ted and peter for being consistent sources of inspiration and wise counsel to their board colleagues
corporate governance
during the year the board has continued to review actively all of the major areas of risk to the company further
details of the governance controls can be found under the corporate governance section of the annual report 
and accounts
wickes
w e are pleased to welcome the directors and staff of wickes to the travis perkins’ group following shareholder
approval at our egm on 2 february 2005 and clearance from the office of fair trading the acquisition of wickes
was completed on 11 february 2005 w e are delighted with the acquisition for which we paid £950 million on a debt
free basis through wickes we have entered a new market with strong longterm growth characteristics together with
significant synergy and store expansion potential
outlook
w e are delighted with the 2004 results which included a record number of smaller acquisitions and brownfield
openings w e 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 despite a slowing of
consumer spending in february as experienced by many retailers we see enhanced earnings growth from the wickes
acquisition w e will continue to grow our business by investing in a plentiful supply of opportunities for tp
acquisitions and for new sites for both wickes and for merchant branches
t e p stevenson  chairman
4 march 2005
tra vis perkins plc
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wickes extra store at maidstone