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Builders and building materials

Travis Perkins upgrades profit expectations as builders demand boost trading

Adjusted operating profit for 2021 will be ahead of current market expectations and at least £340mln

Travis Perkins (LSE:TPK) plc said adjusted operating profit for 2021 will be ahead of current market expectations and will be at least £340mln.

Sales in the third quarter jumped 13% compared to two years ago, with merchanting up 15% and toolstation up 1%.

READ: Travis Perkins confirms 35p special dividend after plumbing sale

The merchanting specialist businesses continue to see strengthening end-market demand, while toolstation saw a normalisation of trading following exceptional demand from DIY retail customers during the pandemic.

However, price inflation was 11% compared to 7% in the second quarter due to commodity prices increases.