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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.'

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