Share Price.com
Market Update Economic Events Directors Deals Commodities Prices News Market Movers

Travis Perkins sales rise 5.4% in first quarter; buoyed by merchanting, Wickes

Wednesday, 8th May 2019
Builders merchant and DIY group Travis Perkins said its sales had grown 5.4% in the first quarter, but it on track to meet its expectations for the full year.

On a like-for-like basis, sales for the three months through March rose 7.3%.

Merchanting like-for-like sales grew 10.6%, while there was a 'good recovery' in Wickes, where like-for-like sales grew 10.5%.

The plumbing and heating division, however, posted a 4.0% fall in like-for-like sales.

'We have delivered strong sales growth in the first quarter of the year, which reflects both our focus on excellent customer service and the weak comparator in 2018,' said chief executive John Carter.

'This performance is all the more encouraging given the impact of the on-going political uncertainty on our end markets.'

'In plumbing and heating the milder winter has impacted sales compared to 2018, but our branches and specialist online channels have continued to perform well.'

'The work to operationally separate plumbing and heating is progressing to plan and is expected to be completed in the second quarter.'

'We are making good progress on cost reduction activities and expect to meet our cost reduction targets this year.'

'Overall expectations for the group in 2019 remain unchanged.'




Story provided by StockMarketWire.com

Related Shares: Travis Perkins

Share Search
Share Search Share Search

Visit the Share Search.
Share Search

Share News
Share News



SharePrice.com will do their best to ensure the quality of the information displayed on this site, but all information is provided as-is, free of charge. We cannot be held responsible for any loss, material or otherwise, due to incorrect information found here. UK data supplied by NBTrader and Digital Look. Share Prices are at least 15 minutes delayed.