Continuing positive trading momentum means that builders merchant group Travis Perkins is expecting adjusted operating profit for the full year 2021 to be ahead of current market expectations, at in excess of £340m. The merchant has seen continuing like-for-like sales growth of 13.1%, it revealed in a third quarter trading update.
The Merchanting business saw like-for-like sales growth of 15.3% (11.8% on a two year like-for-like basis) with the end-user market demand remaining robust, notably in the RMI sector.
Toolstation grew by 1.4% on a like-for-like sales basis (25.2% on a two-year like-for-like basis) in Q3 as the customer mix normalised following the pandemic-fuelled exceptional demand from DIY customers during 2020
Nick Roberts, Chief Executive, said: “The Group has delivered a strong performance in the third quarter and is navigating well-documented supply chain and cost inflation challenges very capably. End market demand remains robust and we are confident that we are in a strong position to deliver future growth.
“As outlined at our Investor Update in September, the focus of the Group is to enhance our market leading propositions to win share and to provide new value added services to our customers as the construction process evolves to improve quality, drive efficiency and reduce carbon and waste.”