‘Robust housebuilding market’ leads to sales growth for Northampton-based Travis Perkins

Firm confident for rest of year despite economic and political uncertainty

Monday, 2nd May 2022, 7:51 pm

Northampton-based Travis Perkins has reported a 13.6 percent increase in sales in the first three months of 2022 compared to last year.

And despite general economic and politic uncertainty the firm says “order books remain robust UK construction” and expectations for the rest of the year are unchanged, say management.

A spokesperson for the firm said: “In the Merchanting segment, total sales* were up by 17.9% with all businesses performing in line with expectations.

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Travis Perkins has revealed its sales for the first three months of the year. Picture: Stephen Bates

"Pricing accounted for about two-thirds of the growth with manufacturer increases continuing to be passed through in an orderly manner. Customer demand remains robust across our end markets with larger customer activity underpinned by the backlog of social and economic infrastructure work and ongoing requirement for new housing. SME customers continue to see healthy order books, including a growing interest in energy efficiency projects.

“As anticipated, Toolstation total sales* were down (6.0 percent) in the first quarter, with like-for-like sales down (11.9 percent), reflecting a tough prior year comparator and the return of Toolstation’s customer mix back to its core trade base who continue to appreciate the value and convenience of the customer proposition. Management is confident that business drivers will normalise into the second half of the year as the comparative period passes the lifting of pandemic restrictions..

Nick Roberts, chief executive, added: “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.”