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Travis Perkins reports positive Q1 as Wickes demerger remains 'on track'
StockMarketWire.com
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Travis Perkins has reported an 'encouraging start to the year', as like-for-like sales grew 17.4%.
It has also seen 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, and continued acceleration of Toolstation growth with like-for-like sales up 42.0%,
There has been ongoing strong performance in Wickes with like-for-like sales up 19.7% and the Wickes demerger is due to complete with trading in Wickes shares commencing on 28 April.
Travis Perkins share consolidation will be effective following market close on 28 April, with trading in new Travis Perkins shares commencing on 29 April.
Nick Roberts, Travis Perkins' chief executive, said: '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.
'We are encouraged by the robustness of the RMI market and the continued recovery in our other key end markets. However, at this early stage in the year, our expectations remain unchanged as we continue to make progress on the delivery of our longer-term strategic plans.'
Story provided by StockMarketWire.com
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