In its interim management statement, the merchant said group revenue for the four months ended April 30 was 1.2% lower than a year ago because of bad weather affecting construction sector activity and tough trading conditions.
But Mr Cooper said sales recovered in April and early May as construction sector activity picked up and he said forward indicators were confirming Travis Perkin’s earlier predictions that markets would turn later in 2013.
Revenue in the company’s general merchanting division rose 0.3% in the period, with like-for-like revenue down by 0.7%. It said the impact on first quarter sales was unlikely to be recovered in the remaining eight months of the year.
Travis Perkins introduced fixed price promotional offers in its general merchanting division to counter the tough conditions, while branded ranges were extended in Wickes.
“Although it is still very early days these changes have been well received,” it said.
