Travis Perkins has achieved a 6 per cent rise in third-quarter sales, despite announcing that growth has slowed in recent weeks.
The builders’ merchant and DIY retailer which trades from more than 1,200 Travis Perkins, Keyline and Wickes branches, also revealed that its forecast for the rest of the year remained unchanged after also announcing that turnover in its merchant division increased by 10.3 per cent in the three months to 30 September.
Wickes, Travis Perkins’ DIY supplies business, achieved a 0.6 per cent rise in like-for-like sales and a similar rise in its gross margins, while the group revealed that gross margins for the third-quarter in its merchant division were slightly lower than last year.
But the group revealed that its competitors’ attempts to increase their market share had eaten away at some of Wickes’ gain.
The news is unlikely to affect the company’s attempts to acquire BSS Group for approximately £580 million. Should the deal come off, it would give the new group between 20-25 per cent of the plumbing and heating and retail distribution market, ahead of current leader Wolseley.
The OFT decide on the deal on 19 October.