Travis Perkins Q1 sales spike 17.4%
Its Toolstation operation provided the largest increase in like-for-like sales, rising 42% year-on-year and 66.8% when compared to 2019
Builders merchant and home improvement retailer Travis Perkins saw like-for-like sales increase 17.4% year-on-year for the first quarter of FY 2021.
The three month period also represented an 11.8% rise in sales when compared to the first quarter of FY 2019.
The firm’s merchanting, and plumbing and heating arms saw sales up 15.5% and 11.4% respectively when compared to the same period last year.
However, its Toolstation operation provided the largest spike in like-for-like sales, rising 42% year-on-year and 66.8% when compared to 2019.
The “robust” sales growth comes as trading days at Travis Perkins were reduced by 1.4% when compared to the first quarter of FY 2020.
Nick Roberts, chief executive at the company, said: “We are encouraged by the robustness of the RMI market and the continued recovery in our other key end markets.
“However, at this early stage in the year, our expectations remain unchanged as we continue to make progress on the delivery of our longer-term strategic plans.”
The reported figures exclude the group’s Wickes operation, due to the upcoming demerger of the brand set to commence on 28 April 2021.
However, Wickes also saw like-for-like sales grow 19.7% year-on-year and 25.6% when compared to the first three months of FY 2019.
Roberts added that he is “pleased to report that the Wickes demerger process remains on schedule” for its April completion, in turn “leaving the business a simplified and trade focused group”.
