Builders and plumbers merchant group Travis Perkins has seen growth picking up in the first quarter, helped by the recovery in the UK’s repair, maintenance and improvement market.
Total sales at the group, whose brands include Travis Perkins, PTS, Keyline, CPS, Toolstation, Benchmarx and Wickes, increased 5% and were up 4.2% at outlets open over a year.
Overall, trading was in line with expectations, and the group said is targeting earnings growth of around 10% in 2016.
Like for like sales per division were up: 4.7% in general merchanting, 2.2% in plumbing and heating, 2.1% in Contracts and 7.3% in Consumer.
Chief Executive John Carter said: “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.
“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. The physical aspect of the restructuring of the Plumbing & Heating division has been successfully completed; the priority is now to take full advantage of the customer focused businesses that have been created.
“Growth in the Contracts division moderated, against strong comparators in 2015, but there remains significant opportunity to continue to take further share in these markets.
“The Consumer division maintained the strong momentum established in 2015, with excellent like-for-like growth. Our three priorities remain unchanged; the modernisation of Travis Perkins, the transformation of Wickes, and improving the performance of the restructured Plumbing & Heating division.”