Travis Perkins has seen a “positive start” to 2022 with total sales for the three months to 31 March 2022 13.6% ahead of last year.
In the Merchanting segment, total sales were up by 17.9% with all businesses performing in line with expectations.
The business said pricing accounted for approximately two-thirds of the growth with manufacturer increases continuing to be passed through in an orderly manner.
Travis Perkins added that customer demand remains robust across its end markets with larger customer activity underpinned by the backlog of social and economic infrastructure work and ongoing requirement for new housing.
Toolstation total sales however were down 6% in the first quarter, with like-for-like sales down 11.9%, 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.”
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.”
