Sales recovering at Wickes owner

TRAVIS Perkins surged early this year in another sign of a turnaround at the Wickes and Toolstation owner.

The DIY retailer said same- store sales in the first quarter of 2019 were 7.3pc higher than in the same period 12 months earlier, due to better customer service and a recovery after the Beast from the East hit business in early 2018.

The company, which is the UK’s biggest supplier of building materials, said it is ‘making progress’ in a turnaround plan it announced in December.

This will see the Northampton firm simplify its business and sell its plumbing and heating division to save £30m. The strategy follows a profit warning last summer after a downturn in the DIY market and turmoil on the High Street.

Wickes in particular endured a tough early 2018, but Travis Perkins said yesterday that comparable sales at that business had jumped 10.5pc between January and March while Toolstation had surged 19.1pc.

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