News Item: Travis Perkins Quarter 1 Trading Update Released
Today (Thursday 15th April) Travis Perkins issued its Q1 trading update, reporting an encouraging start to the year, with the Wickes demerger on track for completion on the 28th April.
Key highlights include:
- A positive start to 2021 driven by strong RMI demand with Group (excluding Wickes) like-for-like sales growth of 17.4% and 11.8% on a 2 year like-for-like basis
- Good like-for-like growth in Merchanting and P&H, up 15.5% and 11.4% respectively, underpinned by sales retention from the 2020 restructuring programme
- Continued acceleration of Toolstation growth with like-for-like sales up 42.0%
- Ongoing strong performance in Wickes with like-for-like sales up 19.7%. Excellent growth in Core of 38.5% partially offset by DIFM, down (25.0)% on a like-for-like basis due to showroom closures
- Wickes demerger due to complete with trading in Wickes shares commencing on 28th April. Travis Perkins share consolidation to be effective following market close on 28th April, trading in new Travis Perkins shares commencing on 29th April
Nick Roberts, Travis Perkins Chief Executive says: "The Group has enjoyed an encouraging start to the year with robust like-for-like sales growth across our businesses, underpinned by strong demand in the RMI market. The Merchanting business has maintained the momentum seen in the second half of last year while Toolstation continues to outperform, driven by its convenient and trade focused proposition."
The full report can be viewed here, which includes business performance, the Wickes demerger, and more comments from CEO, Nick Roberts.