A recent trading report by Travis Perkins shows growth in trade, while the DIY market continues to be challenging.
The figures were for the third quarter of 2018, and showed:
• Group total sales growth of 3.9%, and like-for-like sales growth of 4.1%
• Combined Merchant businesses (including the General Merchanting, Contracts and Plumbing & Heating divisions) achieved like-for-like growth of 7.0%
• The challenging UK DIY market environment continues for Wickes, although pricing pressure has begun to moderate
• Good progress on cost reduction activities, anticipate full-year performance in line with market expectations.
John Carter, Chief Executive, said: "The Group delivered a solid Q3 trading performance, in line with expectations.
“Our trade-focused businesses delivered good sales growth against a challenging market backdrop, including successful recovery of cost price inflation.
“The UK DIY market continues to be very challenging for Wickes, where significant price pressure and weak consumer confidence is providing a tough trading backdrop.
“Across the Group, we are making good progress with the cost reduction activities that were highlighted in July, and these actions are generating positive results and underpin our confidence that our full-year performance is on track and in line with market expectations."
You can read the full report here.