Travis Perkins (TP) has reported improving trends in its merchanting and retail divisions.
In an interim statement, TP said group revenue for the four months ended April 30 was up by 2.2%, with like-for-like sales up 1.4%.
For the months of March and April, TP’s merchanting businesses reported a 6.1% growth in like-for-like sales over the same period in 2009, “reflecting continued gains in market share”. The improving sales trend has continued with a strong start to trading in the first two weeks of May.
For the first four months of the year, the division’s like-for-like sales rose 2.8%.
TP’s Wickes retail arm recorded a 5.1% decrease in sales during the four-month period, but the last nine weeks saw a slowing in the decline to an average of 3.8%.
“Although consumers and homeowners still appear to be waiting to see what life is going to be like on this side of the election, we are pleased with the overall progress the group has made in the first four months of the year,” said chief executive Geoff Cooper.
“Our more positive merchanting performance is more than balancing the effect of wary consumers currently holding on to their money.”
