Travis Perkins on track despite soggy quarter

Building materials supplier Travis Perkins saw like-for-like sales fall back in the group's second quarter (to end-September), as the group struggled with the poor weather and the competing attraction of the Olympics.

Total sales in the quarter were down 2.4% year-on-year, although the group noted that the quarter this year had one less trading day.

Like-for-like sales per trading day were down 3.5% on the corresponding period of last year.

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"Trading improved in September after the uneven and fragile trading conditions experienced so far this year, and our continuing tight management of costs and efficiency gains from self help projects mean we remain on target to meet market expectations," said Geoff Cooper, the group's Chief Executive.

Group Financial Director, Paul Hampden Smith, has announced his intention to retire from the board early next year.

More to follow ...

JH