Travis Perkins promises dividends and higher profits

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The company reported "a strong rebound in trading" over the last four months after a dismal start to the year.

Sales were up 3.4% in the first half and Travis now expects profits for the period to be ahead of expectations.

Shares were up more than 5% or 37½p to 746½p.

Before today's update, City analysts expected profits of £210 million this year against £180 million in 2009.

Travis, which hasn't paid a dividend since the first half of 2008, said it hopes to declare an interim payment of 5p a share later this month.

Chief executive Geoff Cooper said: "Current trading continues to be ahead of management expectations and we now have the confidence to contemplate recommencing paying dividends."