Travis Perkins posts “solid” first quarter results

Travis Perkins, the Northampton-based building and home improvements giant, has posted a healthy sales growth in its first quarter.

The firm saw turnover increase by 2.7%, boosted by a strong performance in its Contracts division, where sales grew by 12.1%.

John Carter, chief executive, said: “We delivered solid like-for-like sales growth in the first quarter, with volumes across the Group, as anticipated, broadly flat. Revenue growth reflected careful pricing activity to recover input cost inflation assisted by the new pricing tools implemented over the last 12 months. Our Contracts business delivered a standout performance growing well ahead of the market.

“Despite mixed trading conditions expected for the remainder of 2017, we continue to be confident in the longer term outlook for the building materials market and our opportunities to grow and outperform. We continue to invest to build upon the scale advantage we have created and to extend or develop superior customer propositions. These investments will enable us to improve cash flow and returns over the longer term.”

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