Travis Perkins posts rise in sales and profit
Travis Perkins, the owner of DIY chain Wickes, saw revenue in its consumer division rise by 8.6% to £693 million in the first half of its financial year.
The division, which also includes Toolstation, increased its like-for-like sales by 6.5% in the period.
Travis Perkins said the division’s performance was boosted by continued improvement at Wickes due to a transformation programme which included a “significant” number of range reviews. In addition, three Wickes stores were re-modelled in the first half while the Wickes online offer was further improved, with the launch of a one-hour click and collect service. Online sales now make up over 8% of Wickes sales, with half of the growth in online sales coming through click and collect.
Growth in the Toolstation business continued with a strong revenue performance in the six months to 30 June, driven by organic growth in sales through existing stores and the addition of 18 new branches. Toolstation also benefited from the introduction of a new one-hour click and collect service.
Travis Perkins said Tile Giant started 2015 well, with good like-for-like sales growth and gains in market share.
Across the wider Travis Perkins business, revenue increased by 7.8% to £2.94 billion with like-for-like revenue up 5.7%. Adjusted operating profits climbed by 5.7% to £185 million. Excluding property profits, adjusted operating profit grew by 9%
John Carter, Travis Perkins chief executive, said: “The group has delivered a strong underlying performance in the first half. We continue to anticipate a full year result in line with expectations and delivering against our targets including low double-digit profit growth and sales outperformance of our markets.”
