LONDON (ShareCast) - Building products firm Tyman gave the construction and materials sector a big boost on Tuesday after the company impressed with its 2013 results.

Tyman hiked its dividend by a third after it swung to a profit last year, helped by the acquisition of Truth Hardware and improving construction markets in the UK and US.

Pre-tax profit totalled £0.8m in 2013, compared with a £25.8m loss previously. Underlying operating profit rose 40.9% to £32.3m. Revenues rose 30.3% to £298.1m, up 6.3% on a constant currency like-for-like basis.

The stock was up 10.7% at 292.25p by 15:42.

Ground engineering group Keller was bouncing after finishing Monday’s session at 1,035p, its worst closing level since mid-December.

The stock had been under heavy selling pressure since the company disappointed with its outlook for 2014, saying that it has been hit by adverse currency movements and extreme weather conditions in North America in the first two months of the year.

Sector peer Costain was also performing well today, extending gains after yesterday being awarded a £150m contract to deliver infrastructure and station upgrades for the Crossrail line in east London.

Others in the sector including building materials groups CRH, Travis Perkins and Michelmersh Brick were also higher.


Top performing sectors so far today
Aerospace and Defence 4,844.04 +1.42%
Construction & Materials 4,724.69 +1.22%
Technology Hardware & Equipment 1,217.69 +0.93%
Fixed Line Telecommunications 4,629.95 +0.91%
Mining 16,458.18 +0.89%

Bottom performing sectors so far today
Mobile Telecommunications 5,095.66 -0.84%
Industrial Metals & Mining 832.13 -0.77%
Chemicals 10,678.92 -0.76%
Food Producers & Processors 7,301.06 -0.56%
Food & Drug Retailers 4,235.98 -0.52%

BC

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