Travis Perkins have issued a trading statement, which shows the group are currently performing in line with expectations.
In total, group turnover to the end of September was up 11.3% compared with the equivalent period in 2006. And, for the first nine calendar months of 2007, total turnover in the merchant division increased by 12.5%.
According to the statement the retail division also performed solidly: “Trading at Wickes continues to progress in line with our expectations. Total turnover for the 39-week trading period ended on September 29 was up by 8.5%. As expected, gross margins are slightly below the comparable period in 2006, mainly reflecting continued price competition in key value lines.”
Last week Travis Perkins announced the acquisition of four Focus stores, to be absorbed into the Wickes portfolio. The group currently trade from 1065 locations as, in the period, the group added 40 new merchant branches and 3 new Wickes stores, “increasing Wickes’ selling space by 5.6%”.
And the group are looking forward to further expansion and growth regardless of market conditions: “Whilst lead indicators are pointing to a slowing of market growth, in 2007 we have increased the resilience of our business to variations in market growth through programmes designed to continue gains in both like-for-like and total market share and drive further gains in productivity,” said the statement. “With these, and our traditional strengths of cost vigilance and tight cash management, we are confident of making further progress in 2008 and beyond.”