Travis Perkins says it is winning market share as sales increase
BRITISH builders’ merchant and do-it-yourself retailer, Travis Perkins, said yesterday it was on track to meet profit expectations for the year after posting a rise in sales and market share gains in the first four months of the year.
The group, which also trades as City Plumbing, Keyline, Tile Giant, Wickes and BSS, said group revenue rose 4.4 per cent in the four months to 30 April, with gross margins in line with last year.
“Overall at a group level the outlook for the year remains unchanged and we remain confident of meeting consensus expectations,” said the firm.
Travis Perkins said it continued to gain like-for-like market share in all of its four divisions – general merchanting, specialist merchanting, plumbing and heating, and consumer.
Like-for-like sales were up 2.6 per cent in general merchanting but down 5.2 per cent in the consumer division.
Net debt was reduced by £50m in the period to £583m and the firm said it was on track to meet its £450m year-end net debt target.