(Sharecast News) - Builders' merchant Travis Perkins reported "strong" fourth-quarter sales at Wickes on Wednesday, as it said plans to demerge the home improvement business this year were on track.
Wickes delivered like-for-like sales growth of 4.5% in the quarter, driven by a "strong" performance across the core local trade and DIY division and the 'do-it-for-me' segment, which saw LFL sales rise by 5.1% and 3.2%, respectively. On a total basis, sales at Wickes increased 3.4%.
Wickes chief executive officer David Wood said: "I am delighted to report a strong sales performance for Wickes in Q4 and for the full year, setting us up well for the intended demerger from Travis Perkins, which remains on track for Q2 2020.
"We are looking forward to our future as a standalone business, building towards our vision of a Wickes project in every home, allowing us to create long-term value for all our stakeholders."
Travis Perkins announced in July last year that it was planning to spin off the Wickes business.
Travis Perkins (TPK)2 May 2024 13:49