Wickes shines in strong first quarter for Travis Perkins

FTSE 100 builders’ merchant Travis Perkins reported a first quarter of solid growth on Wednesday, with total sales growth of 5%.

On a comparable days basis, the company saw sales growth of 6.2% in the three months to 31 March, with like-for-like sales improving 4.2%. Two year like-for-like growth was 9.5%.

“All of our businesses demonstrated good growth in the first quarter of 2016, driven by the recovery in the RMI market and by the investments we have made to improve our customer propositions as part of our five-year plan,” said Travis Perkins chief executive John Carter.

The group’s strongest growth area was consumer at 7.3%, followed by general merchanting at 4.7%, plumbing and heating at 2.2%, and contracts at 2.1%.

“The modernisation of general merchanting continued with a clear focus on driving the maturity of the heavyside range centre network, improving customer access to broader ranges and better stock availability,” Carter explained.

“The physical aspect of the restructuring of the plumbing and heating division has been successfully completed; the priority is now to take full advantage of the customer focused businesses that have been created.”

Carter said growth in the contracts division moderated against strong comparators in 2015, but there remained significant opportunity to take further share in those markets.

He also point to the consumer division as maintaining its strong momentum established in 2015.

“Our three priorities remain unchanged; the modernisation of Travis Perkins, the transformation of Wickes, and improving the performance of the restructured plumbing and heating division."