Travis Perkins continues to recover lost ground with strong Q3 performance
Northampton-based Travis Perkins has continued its recovery after posting a 3.9% hike in revenues for its third quarter to September 30.
Strong performance in the DIY market helped its Wickes and Toolstation brands to a strong performance.
However, overall sales remain almost 15% down this year.
Nick Roberts, chief executive, said: “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.”