Travis Perkins is on track to demerge its Wickes home improvement business by 28 April, the company said on Thursday.
The group had put the process on hold at the start of the pandemic last year, but trading in Wickes shares will now commence at the end of the month.
Nick Roberts, CEO of Travis Perkins, said that the Wickes demerger will leave the business “a simplified and trade-focused group”.
Delivering its first quarter trading update, Travis Perkins said that like-for-like sales rose by more 17 per cent year-on-year. CEO Roberts hailed the group’s resilient start to 2021.
“The Group has enjoyed an encouraging start to the year with robust like-for-like sales growth across our businesses, underpinned by strong demand in the RMI market.
“The Merchanting business has maintained the momentum seen in the second half of last year while Toolstation continues to outperform, driven by its convenient and trade focused proposition.”