Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
Figures released by the Builders Merchants Federation (BMF) in its latest Plumbing and Heating Merchants Index (PHMI) confirms that price growth remains a factor in driving the rise in annual sales value, as year-on-year volumes are down. There are, however, signs that price growth is slowing.
Quarter 2 2023 v Quarter 2 2022
Overall Q2 2023 saw a +3.9% increase in sales values compared to the same period last year, with no difference in trading days. However, growth stemmed entirely from higher prices (+7.2%) as volume was -3.0% lower than Q2 2022.
Quarter 2 2023 v Quarter 1 2023
Total value sales in Q2 2023 were -12.0% lower than in the previous quarter. This was a combination in reduction in volume sales, down by -8.9%, and prices falling by -3.4%. It should be noted that there were four less trading days in the most recent quarter, therefore like-for-like value sales, which take trading day differences into account, were only -6.1% lower in Q2.
Last 12 months
Volumes have held steady over the last 12 months, Plumbing & Heating Merchants value sales in the period from July 2022 to June 2023 increased by +8.4% compared with the previous 12 months. The result is a combination of prices increasing by +9.1% and volume falling by just -0.7%. Taking account of one less trading day in the most recent 12 month period, like-for-like value sales were +8.8% higher.
The data for the PHMI is taken solely from P&H specialists, including City Plumbing Supplies, James Hargreaves Plumbing Depot, Plumbfix, PTS, Williams & Co, and Wolseley, who form part of GfK’s Plumbing & Heating Merchants Panel, and there is no overlap or double counting between the PHMI and the BMF’s established Builders Merchants Building Index which analyses sales at generalist merchants.
