Travis Perkins sales falter in fragile market
Published: 12 October, 2012
NORTHAMPTON: Travis Perkins reports sales down 2.4% in the third quarter to end of September compared to the second quarter. Like-for-like sales per trading day were down 3.5%. In the nine months to end-September, total sales rose 0.7% and like-for-like sales fell 1.7%.
Travis also reports margins under pressure because of "competitive market conditions" in retail, general merchanting and plumbing and heating.
Geoff Cooper, chief executive said: commented: "Trading improved in September after the uneven and fragile trading conditions experienced so far this year, and our continuing tight management of costs and efficiency gains from self-help projects mean we remain on target to meet market expectations."
Travis Perkins group financial director, Paul Hampden Smith is to leave Travis Perkins. He will retire from the board after completion of the annual results exercise next February but remain with the company until September 2013.