By Carlo Martuscelli
Travis Perkins PLC (TPK.LN) said on Thursday that comparable sales were up in the third quarter and that it expected to achieve full-year expectations.
The company reported that market conditions continued to be mixed--with spending under pressure from rising inflation and continuing uncertainty in the U.K. economy--but that it had achieved growth in comparable sales, which were up 4.1% in the quarter ending Sept. 30, and total sales, which grew 3.5%.
Travis Perkins saw a return to sales growth in its plumbing and heating business, which grew by 5.4%--a figure that excludes sales from branches closed since July 1. The company had announced plans to simplify the business in the previous quarter.
The company said that despite headwinds it remains on track to meet its full year expectations.