Travis Perkins ‘positive’ after strong Q1

Travis Perkins says it has seen a “positive” start to the year, with sales for the first three months up 13.6% on last year.

The Northampton firm says revenue in its merchanting arm rose by almost 18%, but Toolsation sales fell by 6% after a tough comparator year. Management is “confident” of a recovery in the second half of the year.

Nick Roberts, chief executive, said: “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.

“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.”