Tuesday, November 24, 2020

Travis Perkins continues to recover from lockdown with Q3 sales growth

Like-for-like sales grew by 3.9% at Travis Perkins during its third quarter, however like-for-like sales for the year are down 11.8%.

In a statement to London Stock Exchange the company noted: “The progression of sales recovery has continued throughout Q3, particularly in the trade focused businesses. During July, volumes picked up strongly as markets exited the lockdown period. Trading in August was modestly softer, impacted by a protracted holiday season, before then picking up again in September in line with schools reopening and many trades returning to a more normal work schedule.”

Nick Roberts, Chief Executive, said: “We have reported a positive overall like-for-like sales performance in the quarter as our markets have continued to recover following the impact of the national lockdown earlier this year. This has been driven by a strong recovery in demand across domestic RMI markets, benefitting the Travis Perkins, City Plumbing, Wickes and Toolstation businesses who serve these markets. Currently this domestic RMI trend remains strong.

“Whilst local trade activity has recovered well, our trade businesses continue to experience a lag in recovery from larger housebuilding and construction projects. However, there are signs of increasing workflow across these sectors as underlying demand strengthens as businesses have adapted to new and safe ways of working that enable them to keep sites open during periods of local lockdown.

“During the quarter, we have made further progress in strengthening the core of our trade businesses, in addition to completing the disposal of Tile Giant.

“Our excellent cash generation this year has built a strong liquidity position, and combined with the decisive actions taken in June to realign our cost base to the new trading environment we are confident in both the Group’s ability to navigate the near-term uncertainty, as well as our position for the long term as we build towards becoming the leading partner for the construction industry.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.






Latest news

A very unconventional Christmas gift list, but perhaps right for the moment: by James Pinchbeck of Streets Chartered Accountants

James Pinchbeck, Partner at Streets Chartered Accountants, presents gift ideas for business people and employees in the post-Covid world. With Christmas seemingly the only certainty...

Breedon appoints CFO designate

Breedon, the Leicestershire-based construction materials group, has appointed James Brotherton to the executive management team as Chief Financial Officer (CFO) designate. James was CFO of...

Northampton-headquartered automotive specialist secures £750k CBILS support

IN‘n’OUT Autocentres, a group of 27 car garages across the UK, has secured a £750,000 loan from HSBC UK through the Coronavirus Business Interruption...

Global insurance data and technology business moves into new Nottingham home

LexisNexis® Risk Solutions, a provider of data, analytics and technology to insurance providers in the UK and Ireland, has moved into the newly regenerated...

Loughborough awarded £1m to research plastic packaging alternatives

Loughborough University has been awarded around £1m to help tackle waste plastic in the UK. The Perpetual Plastic for Food to Go project (PPFTG) will develop, prototype,...

Related news

10,000 sq ft office development takes step forward in Castle Donington

Clowes Developments’ Paul Shanley has achieved a detailed planning consent for a 10,000 sq ft two storey office block at EMDC, Castle Donington. The build...

A very unconventional Christmas gift list, but perhaps right for the moment: by James Pinchbeck of Streets Chartered Accountants

James Pinchbeck, Partner at Streets Chartered Accountants, presents gift ideas for business people and employees in the post-Covid world. With Christmas seemingly the only certainty...

Breedon appoints CFO designate

Breedon, the Leicestershire-based construction materials group, has appointed James Brotherton to the executive management team as Chief Financial Officer (CFO) designate. James was CFO of...

Northampton-headquartered automotive specialist secures £750k CBILS support

IN‘n’OUT Autocentres, a group of 27 car garages across the UK, has secured a £750,000 loan from HSBC UK through the Coronavirus Business Interruption...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close