Travis Perkins Sees Rising Sales on Lockdown Ease

Sales at Travis Perkins were up 5 per cent in the latest quarter compared to the same period a year earlier.

The group, which owns plumbing and heating firm Tile Giant and Wickes DIY retailer, said profits had risen nearly 25 per cent to £110.8million.

Profit at Wickes rose 14 per cent to £16.4million.

Travis Perkins reported a 15 per cent rise in first quarter trade, amid a clampdown on excessive borrowing and consumer caution.

The Bradford-based company, which has 900 Plumbing & Heating Service, 10 Wickes Home Improvement and 600 Mulberry and Hurst stores, said it had adjusted prices to offset the rise in value of the pound.

It expects revenues to be unchanged at about £1.4billion this year.

Chief executive John Carter said: “While the UK housing market remains uncertain, there are positive signs of recovery in the institutional lettings market.

“The forthcoming Brexit negotiation is of course a concern but we remain committed to building relationships with customers to mitigate risks.”

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