Travis Perkins hails strong third quarter performance
Travis Perkins increased its third quarter like-for-like sales by 13.1% after seeing strong growth of 15.3% in its merchanting business.
Meanwhile, sales at its Toolstation busines edged up 1.4% on a like-for-like basis as trade moderated following exceptional demand from DIY customers during 2020 due to Covid-19 lockdowns.
Nick Roberts, Travis Perkins 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.”
In light of the performance, Travis Perkins now expects its full year adjusted operating profit to be ahead of current market expectations and at least £340 million.
Looking ahead, Roberts said: “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.”
