Business
Travis Perkins PLC : Q3 trading update - Tradin...
Travis Perkins PLC : Q3 trading update - Tradin....
About this update from Travis Perkins Plc
[{"type":"text","content":"\n Travis Perkins PLC : Q3 trading update - Trading on track despite a challenging market backdrop19 October 2017Travis Perkins plcThird quarter 2017 trading update - \"Trading on track despite a challenging market backdrop\"HighlightsThird quarter total Group sales growth of 3.5% and like-for-like sales growth of 4.1% Continued strong growth across all businesses in the Contracts division Significant improvement in sales performance in the Plumbing & Heating divisionJohn Carter, Chief Executive, commented:\"We have delivered a good like-for-like sales performance across the Group in the third quarter against a challenging market backdrop of input cost inflation and market volatility. Volumes were broadly flat with inflation driven price increases the main component of our like-for-like growth. Whilst it is relatively early days in the transformation plan, it is encouraging to see positive progress in the Plumbing & Heating division.Trading conditions in our markets continue to be mixed, with consumer discretionary spending under pressure from rising inflation and on-going uncertainty in the UK economy. We maintain our confidence in the long-term fundamental drivers of our markets, and this underpins our plan to invest in our businesses to improve our customer propositions and extend our competitive advantage.\"Q3 2017 sales growthGeneral Merchanting(1)Plumbing & Heating(1)Contracts(1)Consumer(2)GroupLike-for-like sales 2.4%5.4%*7.7%2.4%4.1% Net new space and acquisitions 0.7% (2.5)% 0.6% 2.6% 0.6% Trading day differences** (1.6)% (1.6)% (1.6)% - (1.2)%Total sales 1.5%1.3%6.7%5.0%3.5% Two-year like-for-like 3.0% 1.1% 13.8% 8.9% 6.2%YTD 2017 sales growthGeneral Merchanting(1)Plumbing & Heating(1)Contracts(1)Consumer(2)GroupLike-for-like sales 0.7%0.9%*8.6%4.6%3.3% Net new space and acquisitions 0.9% (0.9)% (0.4)% 2.7% 0.7% Trading day differences** (0.5)% (0.5)% (0.5)% (0.8)% (0.6)%Total sales 1.1%(0.5)%7.7%6.5%3.4%*Plumbing & Heating LFL sales figures exclude sales from branches closed since 01 July 2017**Total Group sales growth in Q3 was impacted by one fewer trading day in 2017 in the merchant businesses: General Merchanting, Plumbing & Heating and ContractsTotal Group sales grew by 3.5% in the third quarter, with like-for-like sales growth of 4.1%, in part benefiting from a relatively weak c...