Travis Perkins has said it has seen a positive start to its new financial year with total sales in the three months to March 31 rising by 13.6%.
In the Merchanting segment, total sales were up by 17.9% with all businesses performing in line with expectations.
However, Toolstation total sales were down 6% in the first quarter, with like-for-like sales down 11.9%, reflecting a tough prior year comparator and the return of Toolstation’s customer mix back to its core trade base.
The company said management’s expectations for the full year remain unchanged.
“The Group has had an encouraging first quarter and, although the wider economic backdrop remains uncertain, we are well placed to build on this positive start in the coming months,” Travis Perkins chief executive Nick Roberts said.
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“The energy efficiency of the UK’s built environment remains a key focal point for households and politicians alike and the current cost of energy is likely to prompt further demand for improvement in both new and existing buildings.
“Allied to the significant pipeline of investment in the UK’s social and economic infrastructure, we remain confident in the structural drivers of demand in our end markets.
“As the UK’s largest building materials supplier and a leading partner to the construction industry, we are uniquely placed to support the country in this drive and are working closely with all key stakeholders, including government, housebuilders, tradespeople and developers, to address these challenges.”
