UPDATE 1-Travis Perkins year profit jumps 37 pct

* 2011 pretax profit 297 mln stg vs f'cst 287 mln stg

* Revenue 4.78 bln stg, up 52 pct

* 1st 7 weeks of new year like-for-like revenue up 1.8 pct

* Total (Other OTC: TTFNF.PK - news) div 20 pence, up 33.3 pct

* Sees markets subdued in 2012 but expects "solid progress"

LONDON, Feb 22 (Reuters) - British builders' merchant and home improvement retailer Travis Perkins (Other OTC: TVPKF.PK - news) posted a better than expected 37 percent rise in year profit as it won share from rivals and forecast more growth in 2012 even though it expects its markets to remain subdued.

The firm, which trades as Travis Perkins, Keyline, CCF, City Plumbing, Benchmarx, Tile Giant, Wickes and BSS, said on Wednesday it made an underlying pretax profit of 297 million pounds ($470 million) in 2011.

That compares with analysts' consensus forecast of 287 million pounds and 217 million pounds made in 2010.

Turnover rose 52 percent to 4.78 billion pounds and was up 6 percent on a like-for-like basis as the firm gained market share.

Like-for-like sales were up 1.8 percent in the first seven weeks of its new financial year.

Travis Perkins said it expected another year of solid progress in 2012 even though it expects its markets to remain subdued.

The firm, which ended 2011 with net debt of 583 million pounds, raised its total dividend 33 percent to 20 pence.

Shares in Travis Perkins, which have increased by nearly a quarter over the last three months, closed Tuesday at 1,008 pence, valuing the business at 2.46 billion pounds. ($1 = 0.6321 British pounds) (Reporting by James Davey; editing by Rhys Jones)