Interim results reveal rise in revenues from major divisions
Builders’ merchant Travis Perkins has posted growth of 5.9% for the first four months of 2011, after having bought plumbing and heating group BSS for £624m last year.
In an interim management results statement released today the group said that its merchanting division was up 11.1% and DIY specialist Wickes, delivered turnover for the period to 30 April up 3.1%.
It also pointed out that the current set of results were achieved despite having two less trading days than in the comparable period last year.
Geoff Cooper, chief executive , commented: “After strong early progress against weak weather related comparatives, we are pleased with the overall progress the Group has made in the first four months of this year. Current trading is in line with management expectations with the benefit of strong sales performance balancing a slightly lower gross margin in merchanting.
“We continue to take market share against a tough market backdrop, confirming the sustainable strength of our organic growth strategy. Our more positive merchanting and BSS performance is more than balancing the effect of a challenging consumer environment for our retail business”.