Trading Update

RNS Number : 8234T

Travis Perkins PLC

13 December 2011

 



Travis Perkins plc

Trading Update - Trading overall in line with expectations

Travis Perkins, the UK's leading builders' merchant and DIY retailer, today issues this Trading Update for the 11 months to the end of November.

Including BSS in 2010 on a proforma basis (but excluding data from the recently disposed Buck and Hickman business from both years), Group turnover for the eleven months to the end of November was up 5.5%. This period included one less trading day in our merchanting and BSS divisions than for the comparable period in 2010. Overall turnover without the proforma adjustment was ahead by 54.1%.

For the first eleven months of 2011 total turnover in our merchanting division, comprising our general and specialist merchanting businesses was up by 11.3%, including an increase in like-for-like turnover per trading day of 9.3%. Like-for-like turnover per trading day for the last two months to 30 November increased by 8.0%.

In general merchanting total turnover was up 9.8% for the eleven months, with like-for-like turnover per trading day up 9.0%, whilst our specialist merchanting business saw total turnover increase 13.7% with like-for-like turnover per trading day up by 9.8%.

In Wickes, delivered turnover for the 47 week trading period to 26 November was up 0.6% with like-for-like delivered sales down by 1.6%. Core product sales, representing some 80% of turnover, increased on a like-for-like basis by 1.6%. Kitchen and bathroom ("K&B") delivered sales were down 13.3%, reflecting continued poor and weakening consumer confidence for major purchases.  For the last eight weeks total (core plus K&B) like-for-like delivered sales were down 6.8%.

Total turnover for BSS for the first eleven months of 2011 (excluding Buck & Hickman from both years) was up by 2.4%, with like-for-like turnover per trading day up by 2.8%. Like-for-like turnover per trading day for the last two months to 30 November increased by 2.7%.

We remain on track to meet our net debt target of £600m at the year end.

These trends mean that our outlook for the year as a whole remains unchanged from that stated in our October Interim Management Statement.

Our next update will be our preliminary results on Wednesday 22 February 2012.

Enquiries:
Geoff Cooper, Chief Executive
Paul Hampden Smith, Finance Director
Travis Perkins PLC	[phone]
David Bick/Mike Feltham/Mark Longson
Square1 Consulting Limited	[phone]

 

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