Travis Perkins sees sales rise
Travis Perkins, the owner of Wickes, shrugged off the bad weather to publish a rise in sales for the three months ended 31 March.
The group’s plumbing and heating division was key to this growth, with like-for-like sales rising by a whopping 19.7%.
Overall expectations for 2018 remain unchanged following this, with cost actions expected to drive cost efficiency and mitigate difficult market conditions.
John Carter, chief executive, said: “We delivered solid like-for-like sales growth in the first quarter, with volumes across the group broadly flat and pricing initiatives to recover on-going commodity driven price inflation.
“The turnaround in the plumbing and heating division continues to build momentum as our improvements take effect. Adverse weather conditions have impacted sales across the Group in February and March, but our overall expectations for 2018 remain unchanged and are supported by our actions to reduce costs.
“Whilst the mixed trading conditions in our markets are expected to continue in the near-term, we remain confident in the longer-term outlook for the building materials market, with opportunities to grow and outperform through the investments we are making to develop or extend our strong customer propositions.”
Published: 27 April 2018