The group, which spun out its Wickes home improvement business in April and sold its plumbing and heating division in May, made an adjusted operating profit of 353 million pounds ($474 million) in 2021, versus guidance of "at least" 340 million and up from 128 million in 2020 from its continuing businesses.

Revenue rose 24% to 4.59 billion pounds.

"Whilst the rapidly recovering market created challenges around inflation and product availability, we have navigated them well," CEO Nick Roberts said.

"Given robust end-market demand and a positive start to the new year, we remain confident of making further progress in 2022," he said.

The group, which trades from over 560 branches in the United Kingdom, said lead indicators for 2022 were encouraging with improved levels of housing transactions, the continued move to hybrid working arrangements and year-on-year growth in new housing developments expected to support volumes in its core trade markets.

Over the longer term, the requirement to expand and decarbonise the UK housing stock offers significant growth opportunities for the group, it added.

Travis Perkins shares, up 10% over the last year, closed Monday at 1,461.5 pence, valuing the business at 3.1 billion pounds.

($1 = 0.7447 pounds)

(Reporting by James Davey; editing by Jason Neely)