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“Positive start to the year” for Travis Perkins

Travis Perkins had a “positive start” to 2022 with total sales for the three months to March 31, 2022 13.6% ahead of last year.

In the Merchanting segment, total sales increased by 17.9%, with all activities performing in line with expectations.

The company said prices accounted for about two-thirds of the growth, as manufacturers’ increases continued to be passed through in an orderly fashion.

Travis Perkins added that customer demand remains robust in its end markets with higher customer activity supported by the backlog of social and economic infrastructure works and the continued need for new housing.

Total Toolstation sales were down 6% in the first quarter, however, with like-for-like sales down 11.9%, reflecting “a difficult prior-year comparator and the return of Toolstation’s customer base to its base. primary salesperson who continues to appreciate the value and convenience of the customer proposition.

Nick Roberts, Chief Executive, said: “The group had an encouraging first quarter and, although the general economic environment remains uncertain, we are well placed to benefit from this positive start in the months to come.

“The energy efficiency of the UK’s built environment remains a key focal point for households and politicians and the current cost of energy is likely to drive further demand for improvement in new and existing buildings. Combined with the UK’s large social and economic infrastructure investment pipeline, we remain confident in the structural drivers of demand in our end markets.

“As the UK’s largest supplier of building materials and a leading partner to the construction industry, we are ideally placed to support the country in this momentum and work closely with all key stakeholders. , including government, homebuilders, tradespeople and developers, to address these challenges.”