UK-based builders’ merchant and home improvement retailer Travis Perkins has reported that its sales for the first quarter (Q1) of 2022 were up by 13.6% compared to the same period of last year.
For the three months to 31 March, the company’s merchanting segment sales increased by 17.9%, driven by a demand for new housing and a backlog of social and infrastructure work.
At the same time, Travis Perkins saw sales for its Toolstation business drop by 6.0% in the first quarter, with like-for-like sales declining by 11.9%.
The drop was attributed to a ‘tough’ comparator in 2021 and the return of Toolstation’s customer mix to its core trade base.
Despite an unpredictable macroeconomic and geo-political environment, the company has kept its full-year expectations unchanged.
Travis Perkins chief executive Nick Roberts said: “The group has had an encouraging first quarter and, although the wider economic backdrop remains uncertain, we are well placed to build on this positive start in the coming months.
“The energy efficiency of the UK’s built environment remains a key focal point for households and politicians alike and the current cost of energy is likely to prompt further demand for improvement in both new and existing buildings.
“Allied to the significant pipeline of investment in the UK’s social and economic infrastructure, we remain confident in the structural drivers of demand in our end markets.
“As the UK’s largest building materials supplier and a leading partner to the construction industry, we are uniquely placed to support the country in this drive and are working closely with all key stakeholders, including government, housebuilders, tradespeople and developers, to address these challenges.”
Based in Northampton, Travis Perkins supplies general building materials, timber, plumbing and heating, kitchens, bathrooms, landscaping materials and tool hire among other products and services.