Travis Perkins sales rise as market share edges up
Builders’ merchant and do-it-yourself retailer, Travis Perkins, said it was on track to meet profit expectations for the year after posting a rise in sales and market share gains in the first four months of the year.
The group, which also trades as City Plumbing, Keyline, Tile Giant, Wickes and BSS, said group revenue rose 4.4 per cent in the four months to 30 April, with gross margins in line with last year.
“Overall at a group level the outlook for the year remains unchanged and we remain confident of meeting consensus expectations,” said the firm.
Travis Perkins said it continued to gain like-for-like market share in all of its four divisions – general merchanting, specialist merchanting, plumbing and heating, and consumer.
Like-for-like sales were up 2.6 per cent in general merchanting but down 5.2 percent in the consumer division.
“After a good first quarter, record levels of rainfall contributed to a weaker performance in April and the early part of May where activity levels at sites continue to be impacted by the very wet weather,” added the firm.
Net debt was reduced by £50m in the period to £583m and the firm said it was on track to meet its £450m year-end net debt target.