Business
Travis Perkins PLC : Q1 2016 Trading Update
Travis Perkins PLC : Q1 2016 Trading Update.
About this update from Travis Perkins Plc
[{"type":"text","content":"\n Travis Perkins PLC : Q1 2016 Trading Update20 April 2016Travis Perkins plcFirst quarter 2016 trading update - encouraging sales growth in all divisionsHighlightsTotal sales growth of 5.0% and 6.2% on a comparable days basisLike-for-like sales growth of 4.2% Two-year like-for-like sales growth of 9.5% Overall trading in line with expectationsJohn Carter, Chief Executive, commented:\"All of our businesses demonstrated good growth in the first quarter of 2016, driven by the recovery in the RMI market and by the investments we have made to improve our customer propositions as part of our five-year plan. The modernisation of General Merchanting continued with a clear focus on driving the maturity of the heavyside range centre network, improving customer access to broader ranges and better stock availability. The physical aspect of the restructuring of the Plumbing & Heating division has been successfully completed; the priority is now to take full advantage of the customer focused businesses that have been created. Growth in the Contracts division moderated, against strong comparators in 2015, but there remains significant opportunity to continue to take further share in these markets. The Consumer division maintained the strong momentum established in 2015, with excellent like-for-like growth.Our three priorities remain unchanged; the modernisation of Travis Perkins, the transformation of Wickes, and improving the performance of the restructured Plumbing & Heating division.\"Q1 2016 sales growthGeneral Merchanting(1)Plumbing & Heating(1)Contracts(1)Consumer(2)Group Like-for-like sales 4.7% 2.2% 2.1% 7.3% 4.2% Net new space and acquisitions 1.5% 0.3% 3.1% 3.5% 2.0% Interdivision branches rebranded 1.4% - (2.2)% - - Trading day differences (1.6)% (1.6)% (1.6)% - (1.2)% Total sales 6.0% 0.9% 1.4% 10.8% 5.0% Two-year like-for-like 13.0% (4.0)% 17.5% 13.7% 9.5%Total Group sales grew by 5.0% in the first quarter and 6.2% on a comparable days basis. Like-for-like sales growth was 4.2%. Price inflation was negligible, with low inflation on heavyside categories broadly offset by continued deflation on lightside categories and commodity driven products. There was a negative impact of (1.2)% on Group sales owing to one fewer trading days in the period for General Merchanting, Plumbing & Heating and Contracts. In January...