Retail and merchanting market share gains for Travis Perkins
Strong third quarter performance from the builders merchant
In its Interim Management Statement for the third quarter to the end of September 2010, the company reports that Group turnover is up 6.0% compared to the equivalent period in 2009.
Total turnover for the first nine months of 2010 in the general merchanting business is up 7.3% with like-for-like turnover per trading day is up 6.5%. For this period the specialist merchanting business saw total turnover increase by 8.7% with like-for-like turnover per trading day up by 8.2%.
Wickes total turnover for the 39 week trading period to 2 October was up 2.1%. For this period like-for-like turnover per trading day was down by 0.1%, with core products down by 2.8%, but showroom sales up by 11.9 %. However, for the last thirteen weeks the total like-for-like turnover per day was up by 0.6% with relatively weaker trends in big ticket purchases. Gross margins for the third quarter are ahead of last year continuing the trend of the first six months. However, the recent response by competitors to the reduction in their market shares has resulted in an erosion of some of this gain.
These trends mean that Group trading for the last three months is in line with our expectations. The company says that its outlook for the year as a whole remains unchanged from that stated in their June interim results announcement in July.
There is no further update at this time to the announcement of 27 September 2010 on the proposed acquisition of The BSS Group PLC.
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