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Fri October 23 2020

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Trading growth for Travis Perkins as BSS deal completes

14 Dec 10 Builders’ merchant Travis Perkins today completes its £554m takeover of plumbing supplies group BSS. Confirmation came in an interim management statement on trading conditions from the company.

Travis Perkins reports group turnover for the eleven months to the end of November up 6.5% compared to the equivalent period in 2009, with like-for-like market share gains in both merchanting and retail divisions.

For the first eleven months of 2010 total turnover in the merchanting division was up 8.3% although gross margins are slightly worse than last year.

While trading has continued to be satisfactory in the past two months, Travis Perkins said, “the exceptionally poor weather at the begining of December is expected to have some impact on our sales trends and financial performance for the last month of the year”.

Its Wickes stores saw total turnover for the 47 weeks to 27 November up 2.7%.  For this period like-for-like turnover per trading day was up 0.6%, with core products down by 2.1%, but kitchen and bathroom sales up 12.5 %.  For the last eight weeks the total like-for-like turnover per day was up 4.2% with some evidence of buying ahead of the VAT increase in January.  Gross margins for second half of the year in this operation are ahead of last year.

Outlook for the year as a whole remains unchanged from that stated in its June interim results announcement made in July.

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MPU

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