TP reports 7.2% Q1 group sales growth

23 April 2015


Travis Perkins (TP) has reported a 7.2% group sales growth for the first quarter of 2015.

The general merchanting division, which includes TP builders’ merchant branches, recorded a sales growth of 9.4% compared to a year ago, while the Wickes consumer division saw sales rise by 8.7%.

Growth in general merchanting was particularly strong in heavyside categories, direct sales and the toolhire business. Price inflation weakened modestly through the quarter with lower inflation on heavyside categories and modest price deflation on lightside categories.

In the Wickes business, sales momentum continued to build, with kitchen and bathroom sales recovering against a weak comparative period in 2014, but this was partially offset by lower roofing and fencing sales.

“The modernisation programme in general merchanting is now underway and contributed to our market outperformance,” said John Carter, chief executive.

“The progress we are making underpins our confidence that the plans we have in place and the investments we are making will support further outperformance of our markets, medium-term double-digit operating profit growth and continued growth in return on capital.”

As well as the modernisation of TP, the group is targeting a transformation of Wickes, which it says is taking market share from rivals. During Q1, three new TP branches were opened, as well as nine Toolstation outlets.

TP sales continued to grow in Q1