Travis Perkins plc (TPK.L) said that group revenue for the four months to the end of April, which included two more trading days in its merchanting divisions and plumbing and heating division than for the comparable period in 2011, was up 4.4%.
In an Interim Management Statement, the company noted that it continued to gain like-for-like market share in all four divisions.
On a proforma basis, which includes Toolstation, the like-for-like sales would be down 2.6% for the 17 weeks period.
After a good first quarter, record levels of rainfall contributed to a weaker performance in April and the early part of May where activity levels at sites continue to be impacted by the very wet weather. The company said its increased focus on gross margins has yielded good results. The gross margin, before synergy gains, across the group is in line with the equivalent period last year.
Geoff Cooper, Chief Executive, commented,
"We are pleased with the good progress in the first quarter, in particular the balance between continued share gains and our achievements on gross margins."
Overall at a group level the outlook for the year remains unchanged and Travis Perkins remains confident of meeting consensus expectations.
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