Timber sales are going well at the Builder Center and Timber Center chains, parent company Wolseley plc reports following the release of its interim trading statement.
The heavyside division, which includes timber, recorded “mid-single digit” sales growth in the five months to January 31, 2002, compared to the same period in 2001.
Wolseley’s overall UK operations, which includes Plumb Center as well as heating, air-conditioning and other businesses, had a double-digit growth in sales during the period.
Trading profit is slightly ahead of last year and the operating margin is expected to recover by the financial year-end. Continental European markets are said to be “challenging” and are likely to remain so for the rest of the financial year.
Worldwide group sales were up 7% but this reduces to just 2% after taking into account adverse currency translation differences, mainly relating to the US dollar.
The company says its underlying performance remains strong against a background of mixed and uncertain market conditions.
