Strong Performance Of Wickes and Toolstation Drives Growth At Travis Perkins

Travis Perkin’s has reported a rise in annual turnover, boosted by a strong year for its consumer division, which includes Wickes and Toolstation.

In the 12 months to 31 December, the division’s total sales rose 9.5% to £1.52bn with like-for-like sales up 6.4%. Operating profit increased 6.4% to £101m.

The group said the continued roll-out of its new Wickes store format helped buoy the figures, with 46 revamped outlets opened during the year. The new format now covers 62 outlets with further revamps planned for the coming year.

Online was also a key driver with Wickes posting internet sales of over £100m for the first time. Meanwhile, savings were made with the rationalisation of the Wickes distribution centre network, taking it down to a single centre in Northampton, which now serves all store and direct to customer deliveries.

Meanwhile, the Toolstation network continued its rapid expansion with a further 36 openings in the UK, and seven shops in the Netherlands. Online only ranges were also introduced for the first time with over 1,000 products available to customers along with improved marketing campaigns.

Across the wider Travis Perkins group, revenues were up 4.6% to £6.22bn with like-for-like sales growing 2.7%. However, adjusted operating profits fell by 1% to £409m after the group was impacted by a weak performance at its plumbing and heating division.

Travis Perkins Chief Executive John Carter said: “2016 was another solid year for the group, with continued strong performances from the consumer, contracts and general merchanting divisions, which together contributed 90% of Group adjusted operating profit. These businesses continued to benefit from the investments made in the branch network and customer propositions over the last three years, which provides a strong base for future growth.”