Travis Perkins turnover up
Published: 13 December, 2011
NORTHAMPTON: Travis Perkins turnover for the 11 months to the end of November is up 54.1%, the company said in a trading update today
In its 11-month trading update the company said its turnover, on a proforma basis, increased 5.5%, including BSS in 2010 - but excluding data from the recently disposed Buck and Hickman business from both years.
Travis Perkins acquired BSS Group in December 2010. The 11-month period included one less trading day in merchanting and BSS divisions than for the comparable period in 2010.
In the merchanting division, turnover, comprising general and specialist merchanting businesses, was up 11.3%, including 9.3% increase in like-for-like turnover per trading day. Like-for-like turnover per trading day for the last two months to November 30 increased 8%.
The company's turnover in the general merchanting unit grew 9.8% for the eleven months, with like-for-like turnover per trading day up 9%. Specialist merchanting business' total turnover rose 13.7% with like-for-like turnover per trading day up 9.8%.
Wickes delivered turnover for the 47-week trading period to November 26 up 0.6% while like-for-like delivered sales dropped 1.6%. Core product sales increased on a like-for-like basis by 1.6%, while kitchen and bathroom delivered sales fell 13.3%, reflecting continued poor and weakening consumer confidence for major purchases. For the last eight weeks, total like-for-like delivered sales, from Core product sales plus Kitchen and bathroom, were down 6.8%.
The company said that 11-month turnover for BSS, excluding Buck & Hickman operations, increased 2.4%, driven by 2.8% rise in like-for-like turnover per trading day. For the last two months, like-for-like turnover per trading day increased 2.7%.
Further, Travis Perkins said it remains on track to meet net debt target of £600m at the year-end. Citing the latest trends, the company said that its outlook for the year as a whole remains unchanged. Earlier, Travis Perkins had said that a weaker trading pattern being offset by "our achieving BSS synergies earlier than expected."