Home News Slower large housebuilding and commercial activity holds back Travis Perkins Q3 recovery

Travis Perkins has reported that sales during the third quarter of the year fell by 3.4%. Retail activity was driven by strong DIY demand while larger house building and commercial demand was weaker than normal.

The group revealed that after 165 branch closures like-for-like sales to grow by 3.9% in Q3.

There were significant differences in performance across the group’s end markets, with particular strength in domestic RMI, with strong sales growth of 8% in DIY categories in Wickes and Toolstation, and good trading levels with local trade customers in Toolstation, Travis Perkins and P&H.

The larger end of customer activity has been slower to return to normal, and at the end of September both new housebuilding and commercial construction continue to run at levels some way below 2019, specifically impacting the specialist merchants, including CCF, and elements of the P&H business.

Nick Roberts, chief executive, said: “We have reported a positive overall like-for-like sales performance in the quarter as our markets have continued to recover following the impact of the national lockdown earlier this year.

“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.”

 

 

 

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