Builders merchant group Travis Perkins saw group revenue rise 2.2% for the four months to the end of April, according to an interim management statement issued today.
The merchanting division sales grew 3.3% (like-for-like 2.8%), compared to the same period in 2009, but in March & April that figure was 6.1%, reflecting continued gains in market share. The improvements have continued through the first two weeks of May as well.
Gross margins for the first four months are now only slightly lower than in the same period in 2009.
Revenue for the retail division, on a delivered basis, for the 17-week period ended 1 May 2010, increased by 0.3%, with like-for-like sales declining by 1.7% compared to the same period in 2009. Wickes made significant gains in kitchens and bathrooms with like-for-like sales up by 12.6% over the same period in 2009. This is largely thanks to the number of new kitchen and bathroom initiatives during the period.
Chief executive Geoff Cooper says: “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.
“Current trading is ahead of management expectations, helping us to make inroads into the adverse effects of the weather-affected first two months of the year.
“We continue to take market share in testing conditions, underlining the strength of our organic growth strategy. Our more positive merchanting performance is more than balancing the effect of wary consumers currently holding on to their money.”