Travis Perkins building market share in tough climate

Builders' merchant and DIY retailer Travis Perkins today posted a rise in third quarter sales as it won share from rivals in a tough market.

The firm, which trades from 1,841 branches across the UK, said turnover increased an underlying 5.9 percent in the three months to end-September.

Travis Perkins said sales growth at its merchanting business and at its plumbing and heating business BSS offset a particularly challenging consumer environment for its retail business Wickes.

It said third quarter gross margins were in line with the performance of the first half.

The firm said it was on track to achieve its year end net debt target of £600 million, while its outlook for 2012 remained unchanged from that outlined along with interim results in July.

Travis Perkins said third quarter turnover at builders merchant depots open more than a year increased 7.7 percent and was up 2.6 percent at BSS.

However, like-for-like sales fell 2 percent at home improvement business Wickes.