Builders’ merchant and home improvement retailer Travis Perkins said on Thursday that recent positive trading momentum had continued during the third quarter, with like-for-like sales growing throughout the period.
Travis Perkins stated like-for-like sales had grown 13.1% year-on-year across the group, and also noted they had increased 13.3% when compared to 2019’s pre-Covid figures.
The FTSE 250-listed firm said its merchanting business delivered like-for-like sales growth of 15.3%year-on-year, with end-market demand remaining “robust”, while Toolstation third-quarter sales grew 1.4% on a like-for-like sales basis, or 25.2% on a two-year basis, as customer mix normalised following “exceptional demand” from DIY customers in 2020.
Travis Perkins added that given its “robust underlying performance”, it now expects that full-year adjusted operating profits will be ahead of current market expectations of £316.0m and at least £340.0m, inclusive of around £40.0m of property profits.
Chief executive Nick Roberts 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 of 0850 BST, Travis Perkins shares were down 4.01% at 1,521.50p.
