Travis Perkins has stated its plans to demerge its Wickes unit are on track with the chain performing relatively well amidst the tough trading condition.
The group’s Retail division achieved like-for-like sales growth of 9.7%, with total sales growth of 8.3% in the third quarter to 30 September. Travis Perkins stressed that the “strong performance of Wickes” continued in the period, with further share gains in the home improvement market through core DIY categories and in its Kitchen & Bathroom showrooms.
It stated that core DIY sales benefitted from a “strong trading plan” with targeted promotional activity, the success of an ‘online-in-store’ ordering service, and the continued attraction of its TradePro scheme to small trade customers.
Travis Perkins confirmed in July this year that it planned to demerge its Wickes chain into a separate business as part of moves to simplify the group and focus on its trade operations. This process is “on track, both in terms of the separation of the business from the Group to increase its autonomy and the regulatory process required.”
The group said it aims for the Wickes demerger to be completed in the second quarter of next year. However, it also revealed that it was pausing the sale process of its Plumbing & Heating business due to the current level of uncertainty in the market.
