Business
Q1 2019 trading update - positive start to 2019...
Q1 2019 trading update - positive start to 2019....
About this update from Travis Perkins Plc
[{"type":"text","content":"\n \nTravis Perkins (TPK)Travis Perkins: Q1 2019 trading update - positive start to 2019 despite uncertain market conditions08-May-2019 / 07:00 GMT/BSTDissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.The issuer is solely responsible for the content of this announcement.\n\n08 May 2019\n\nTravis Perkins plc\n\nQ1 2019 trading update - positive start to 2019 despite uncertain market conditions \n\nHighlights\n\nPositive start to 2019 with Group like-for-like sales growth of 7.3% and total sales growth of 5.4% against a soft prior year comparative\n Strong Merchanting like-for-like sales growth of 10.6%\n Continued acceleration of Toolstation growth, with 25% total sales growth\n Good recovery in Wickes with 10.5% like-for-like sales growth \n Given current uncertain market conditions and the early stage of the year, overall expectations for 2019 remain unchanged\nJohn Carter, Chief Executive, commented:\n\n\"We have delivered strong sales growth in the first quarter of the year, which reflects both our focus on excellent customer service and the weak comparator in 2018. This performance is all the more encouraging given the impact of the on-going political uncertainty on our end markets.\n\nThe Merchanting businesses have maintained the strong growth trend from the end of 2018, and Toolstation continues to grow extremely well, driven by network expansion and existing stores maturing. Wickes posted encouraging sales growth figures in both core DIY and showroom categories, demonstrating a strong turnaround in Kitchen and Bathroom performance. In Plumbing & Heating the milder winter has impacted sales compared to 2018, but our branches and specialist online channels have continued to perform well. The work to operationally separate Plumbing and Heating is progressing to plan and is expected to be completed in Q2.\n\nThe actions set out at our capital markets day in December 2018 to deliver best in class service to trade customers and to simplify the Group are well underway. We are making good progress on cost reduction activities and expect to meet our cost reduction targets this year. Overall expectations for the Group in 2019 remain unchanged.\" \n\n\n Q1 2019Â sales growth\n \n \n Merchanting(1)\n \n \n Toolstation(2)\n \n ...