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Travis Perkins upgrades profit expectations as sales grow

// Travis Perkins sees strong sales growth in its third quarter trading update
// Adjusted operating profit for 2021 will be ahead of current market expectations & at least £340m

Travis Perkins has posted solid sales growth in its third quarter trading update, despite the industry being hit by global supply chain troubles and a raw material pricing crisis.

Sales in the third quarter jumped 13 per cent compared to two years ago, with merchanting up 15 per cent and toolstation up 1 per cent.

In light of the performance, Travis Perkins now expects its full year adjusted operating profit to be ahead of current market expectations at £340 million at least.

READ MORE: Travis Perkins appoints Nick Pinney as Property Director

Travis Perkins chief executive Nick Roberts said: “The group has delivered a strong performance in the third quarter and is navigating well-documented supply chain and cost inflation challenges very capably. End market demand remains robust and we are confident that we are in a strong position to deliver future growth.”

Looking ahead, Roberts said: “The focus of the group is to enhance our market leading propositions to win share and to provide new value added services to our customers as the construction process evolves to improve quality, drive efficiency and reduce carbon and waste.”

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