Increased demand at Wickes has helped Travis Perkins to post a 3.8 per cent rise in sales for the 3 months to September 2019. The group which is currently engaged in demerging the Wickes business said that its overall like-for-like merchant sales grew by 1.6 per cent, whereas Wickes delivered a 15 per cent rise in sales. The market for home improvement products remains challenging with Brexit and political uncertainties resulting in a stagnant property market.
The business stated: “The group remains on target to achieve its planned cost reductions in 2019, with actions identified or already underway to achieve £20million to £30 million of annualised savings by mid-2020 which will reduce complexity, lower the above-branch cost base, speed up decision-making and improve service levels for customers.”
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