Travis Perkins reports 2.3% uplift in like-for-like sales at consumer division
Travis Perkins has reported that like-for-like sales at its consumer division, which includes the Wickes DIY chain, grew by 2.3% in its third quarter.
With total sales at the division rising by 4.9%, Travis Perkins said the DIY market declined year-on-year in July and remained weak in August. However, Wickes sales recovered in September and improved further in the early part of October.
Across the wider Travis Perkins group, which includes general merchanting, plumbing and heating, and contracts divisions, group sales grew by 5.5% in the period and by 2.6% on a like-for-like basis.
Travis Perkins chief executive John Carter said: “Our strategy continues to deliver outperformance of the markets in which we operate. Whilst we planned for a modest reduction in RMI markets through the summer given the slowdown in secondary housing transactions towards the end of 2014 and early part of 2015, we saw weaker market demand than anticipated. This was in both housing and non-housing RMI spend as evidenced by the recent construction output data, leading to dampened growth across all of our businesses.”
The group now expects 2015 EBITA growth to be at the lower end of market expectations. Travis Perkins said fourth quarter trading has started more encouragingly, with all businesses impacted by the weaker summer demand showing a pick-up in growth.
