Price rises drive jump in Travis Perkins sales

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Instructions supplier Travis Perkins has revealed a jump in sales last quarter as it was buoyed by higher prices.

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The group, which also runs the Toolstation chain, told investors Thursday that overall sales rose 10.7 percent in the three months to September 30 compared to the same period last year.

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Travis Perkins said sales volume was down 5.6% for the period, but that was heavily offset by changes in pricing and the mix of products being purchased.

Its builders’ merchants business saw an 11.5% increase in sales, although the firm said its UK merchants operating under its name saw “some reduction in demand” among small business clients.

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However, the group said the demand for large repair and maintenance contracts remains good.

Toolstation reported a 6.1% increase in overall sales for the quarter as it was boosted by its continued store expansion plan.

Travis Perkins said the brand is on track to open 80 new branches in 2022, split between the UK and Europe.

The company said that profits are bound to be in the middle of its financial targets.

Travis Perkins Chief Executive Nick Roberts said: “During the second half of the year, we have seen increasing macroeconomic uncertainty.

“We remain focused on maintaining cost discipline across our businesses and the actions we have taken to streamline our operational structure in recent years have built resilience to adapt to changing market conditions.

“All of our businesses see opportunities to further develop their offerings to meet the needs of our diverse clients, as they navigate an increasingly complex construction landscape, which is under new environmental and safety legislation and net zero goals. Characterized by the commitment to give against.

“We believe our market-leading business, backed by focused capital allocation, a strong balance sheet and significant strategic growth opportunities, leave us well positioned to outperform our markets.”

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