Builders' merchant Travis Perkins has released its interim management statement, which shows group turnover to be up by 5.9 per cent in spite of fewer trading days in the merchanting and BSS divisions.
The figures include BSS in 2010 on a proforma basis for the four months to the end of April. Overall turnover without this proforma adjustment was ahead by 58.2 per cent.
Travis Perkins cites the non-BSS revenue gains as being driven by relatively high product inflation and, while the market continues to deliver little or no growth, the company attributes the successful growth to itsdevelopment strategy in both the merchanting and retail divisions. The company also added an additional 14 branches in the first four months of this year, bringing the total number trading up to 1,827.
For the first four months of 2011 total turnover in the merchanting division was up 11.1 per cent, representing an increase in like-for-like turnover per trading day of 12.8 per cent. Like-for-like turnover per trading day for the two months to 30 April increased by 10.4 per cent, with general merchanting total turnover up by 10.5 per cent.
Geoff Cooper, chief executive, commented: 'After strong early progress against weak weather related comparatives, we are pleased with the overall progress the Group has made in the first four months of this year. Current trading is in line with management expectations with the benefit of strong sales performance balancing a slightly lower gross margin in merchanting.
'We continue to take market share against a tough market backdrop, confirming the sustainable strength of our organic growth strategy. Our more positive merchanting and BSS performance is more than balancing the effect of a challenging consumer environment for our retail business''.
