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Wickes and Toolstation deliver strong growth for Travis Perkins

Published: 4 March 2015
Travis Perkins' consumer division, comprising Wickes, Toolstation and Tile Giant, pushed total sales up 8.8% to £1,283m and like-for-likes up 6.7% in the year to December 31 2014.
Wickes and Toolstation deliver strong growth for Travis Perkins
Adjusted operating profit also rose, up 22.7% to £77m from £63m the previous year.

Wickes is the largest operator within the division, with 232 stores - a net increase of three on 2013. Toolstation now has 184, up from 152 during the year, while Tile Giant increased its presence from 108 to 111 outlets.

Travis Perkins said the consumer division had also seen a strong sales volume increase, up 9.8%, driven partly by an improved kitchen and bathroom performance at Wickes.

However, it added that the impact of higher volumes on like-for-like sales was tempered as Wickes continued to lower prices and mount strong promotions on key product lines "to further enhance its value-leading position in the DIY market" and "keep prices generally lower than its competitors".

Meanwhile, Toolstation "continued to invest to maintain its 'lowest price in the market' positioning".

Travis Perkins says one of its key priorities is a transformation of Wickes, with improvements in price, branded ranges, promotions, customer service and the online offer, through the introduction of a new website and click and collect. The store opening programme will also be ramped up.

Overall, Travis Perkins grew full-year revenue by 8.4% to £5.6bn, with like-for-like sales up 7.3%. Pre-tax profit increased 12.8% to £362.3m.

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