Price driving P&H sales growth in Q3

Figures released by the Builders Merchants Federation (BMF) in its latest Plumbing & Heating Merchants Index (PHMI) confirms that price is driving growth in value sales through specialist plumbing and heating merchants.

PHMI Q3 2022 Report

Plumbing & Heating merchants value sales in Q3 2022 were +10.8% higher than in Q3 2021.  The increase came entirely from price inflation (+10.5%) with sales volume flat at +0.3%.  With one less trading day, like-for-like value sales increased by +12.5%.

Performance in the Q3 2022 was slightly ahead of Q2 2022. A comparison of the last two quarters shows value sales in the third quarter were +9.1% higher than Q 2.  Volume sales were +6.8% higher, with price up by +2.2%.  However, with four more trading days in the most recent period, like-for-like sales in Q3 vs Q2 were up by +2.3%

Looking at sales performance for the year to date compared to the same period last year, Overall value sales in January to September 2022 were +7.1% higher than 2021.  Volume sales were -1.3% lower and price up by +8.5%. Adjusted for two less trading days over the first three quarters of 2022, like-for-like sales were +8.2% 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.

About Anjali Sooknanan

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