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Travis Perkins, one of Britain's major building materials suppliers, reported a 1.8% increase in third-quarter like-for-like sales, driven by strategic pricing and targeted promotions. Its core Merchanting division, which caters to construction and home improvement markets, saw a 1.7% sales rise. This growth comes despite the UK construction market contracting for the ninth consecutive month, as companies delayed major projects ahead of the government budget. With new CEO Gavin Slark set to join soon, Travis Perkins is focusing on regaining market share and sustaining momentum in a challenging environment.
Travis Perkins reported a 1.8% increase in like-for-like sales for its third quarter, reflecting the company's efforts to strengthen its position in the competitive UK construction market. The supplier focused on adjusting pricing and running targeted promotions to attract customers and regain market share in its core Merchanting business. Advertisement
The Merchanting division, which serves both construction and home improvement sectors, posted a 1.7% growth in like-for-like sales for the three months ending September. Chair Geoff Drabble noted that in a highly competitive market, the company had made deliberate investments in pricing and promotions and plans to continue these efforts in the near term.
The growth comes amid ongoing challenges in the UK construction sector. Business surveys indicate that construction activity has contracted for nine consecutive months, with many companies postponing major projects ahead of the government's budget. This reflects subdued market conditions and cautious investment by developers.
Travis Perkins has also been preparing for a leadership transition, with Gavin Slark scheduled to take over as CEO in the near future. His appointment is expected to provide fresh focus on operational efficiency, customer engagement, and strategies to regain market share.
Despite the difficult market environment, Travis Perkins' recent performance shows that targeted initiatives in pricing and promotions can sustain steady growth. The company's Merchanting unit remains a key driver of its sales, and careful management of competitive pressures positions it to respond effectively as the construction market gradually recovers.
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