A DOWNWARD trend in like-for-like sales at British builders’ merchant Travis Perkins continued in November, as weak construction and consumer markets weighed on business.
Like-for-like sales for the year-to-date slipped 1.8 per cent. Total sales, which includes the acquisition of Toolstation last January, fared better, rising 1.6 per cent for the 11 months to the end of November.
It also said its specialist merchanting division felt a small positive impact from the closure of a competitor.
Both the construction and retail sectors in Britain have suffered in the economic downturn, but Travis Perkins said trading was in line with expectations and that it was on track to meet consensus earnings per share for the year.
“Despite the evident weakness in UK construction and poor consumer confidence, Travis Perkins is performing reasonably well,” said Seymour Pierce analysts.
Travis Perkins also trades as City Plumbing, Keyline, Tile Giant, Wickes and BSS.
City A.M. Reporter