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Travis Perkins has announced that its merchanting segment saw total sales between April and May 2021 rise 6.3% when compared to 2019 levels.
In a trading update, the group claimed that its strong Q2 performance was also driven by both the domestic and commercial repairs, and maintenance and improvement (RMI) markets.
Moreover, the merchant and home improvement retailer revealed that its year-to-date (YTD) sales at Toolstation UK grew 70.2% from the same period in 2019.
Nick Roberts, chief executive at Travis Perkins, said: “The ongoing strength of the group’s trading performance through the second quarter remains underpinned by demand in both domestic and commercial RMI markets.
“Our merchanting businesses have recovered strongly while Toolstation’s performance continues to be ahead of expectations.”
Looking ahead, the firm expects to beat market expectations for its full year 2021 results, forecasting at least £300m in adjusted operating profit for the period.
Roberts added: “Whilst we are experiencing inflationary pressures across a number of product ranges, due to high demand and supply constraints, we are focused on working with both our suppliers and customers to ensure consistency of supply and fair outcomes for all.”
