Poor weather hits Travis Perkins sales

The firm, which has brands including City Plumbing, Keyline, Tile Giant, BSS and Wickes, said like-for-like sales in the period to September 30 were down in all but one of its four divisions, although sales had improved at the end of the quarter, with plumbing and heating boosted by colder weather.

Third-quarter turnover at builders merchant depots open more than a year fell 1.6 per cent and was down 4.7 per cent at its plumbing and heating unit. Like-for-like sales were down seven per cent at its home improvement business, while its specialist merchanting division posted a 1.3 per cent rise.

The group said it remained in line to meet market expectations, although it had increased its cost management to help ease margin pressure across its merchanting divisions.

Though both construction and consumer markets have been weak in the economic downturn Travis Perkins has performed relatively well. In July the group posted a 7.3 per cent rise in first half profit despite taking a £10m hit due to record rainfall disrupting activity at building sites.

British construction activity, not helped by a spate of flooding across the country, contracted for a second straight month in September as business morale held close to its lowest since entering recession in 2008.

Travis Perkins, which also said its finance director, Paul Hampden Smith, would step down next September, is expected to post a full-year pre-tax profit of £309.5m