Builders’ merchant says third quarter sales 13% up on last year
Booming demand has seen Travis Perkins upgrade its profit forecast for the full year, the firm said in a third quarter trading update this morning.
The builders’ merchant said it expected adjusted operating profit to be at least £340m this year – up from previous expectations of £316m.
It said demand from the repair and maintenance market was up[ more than 15% in the third quarter compared to the same period in 2020 and nearly 12% up on the figure two years ago.
Its Toolstation business, which sells workwear, tools, screws and fixings, was up 25.2% on the same period in 2019 although the figure was only up 1.4% on the same period last year as lockdown-driven demand tapered off.
Chief executive Nick Roberts said it was “navigating well-documented supply chain and cost inflation challenges very capably”.
It said like-for-like group revenue growth was up 13.1% and by 13.3% on 2019’s figure.