Travis Perkins has hailed a “solid performance” during its third quarter, with its Merchanting businesses outperforming their markets and an improved performance in Toolstation.
According to a Q3 2022 trading update for the three months to 30 September 2022, the Northampton-based group delivered “resilient” trading with total sales growth of 10.7% and like-for-like sales growth of 7.4%.
Nick Roberts, Chief Executive, said: “The group has delivered a solid performance during the third quarter with the Merchanting businesses again outperforming their markets and an improved performance in Toolstation. We continue to benefit from our diverse end market exposure from small independent builders through to large contractors delivering national infrastructure projects.
“During the second half of the year we have seen growing macroeconomic uncertainty. We are focused on maintaining cost discipline in our businesses and the actions taken to simplify our operating structure in recent years have created the flexibility to adapt to changing market conditions.
“All of our businesses see opportunities to further develop their propositions to meet our different customers’ needs, as they seek to navigate an increasingly complex construction landscape, characterised by new environmental and safety legislation and a commitment to deliver against net zero targets. We remain confident that our market-leading businesses, backed by focused capital allocation, a strong balance sheet and significant strategic growth opportunities, leave us well placed to outperform in our markets.”
