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Travis Perkins: Trading in line with expectations

Travis Perkins, the largest supplier of building materials in the UK, today issues this trading update for the 11 months to the end of November 2012.

Group turnover for the eleven months to the end of November was up 1.6%. This period included two more trading days in our merchanting and plumbing and heating divisions than for the comparable period in 2011.

In trading conditions that remain difficult, like-for-like sales trends for the Group are similar to those reported in October, with year-to-date like-for-like sales slightly lower at -1.8%, although our specialist Merchanting division has seen a small positive impact from the closure of a competitor.

11 Months Ended 30 November 2012:

Total sales / Like-for-like sales (%)

General Merchanting: 1.4 / -0.4

Specialist Merchanting: 3.7 / 1.6

Plumbing & Heating: -5.8 / -1.8

Consumer: 13.3 / -5.8

Total: 1.6 / -1.8

NB – Consumer sales: 1) 47 weeks ended 1 December. Total sales include Toolstation, which was consolidated from 3 January 2012. 2) On a proforma basis (which includes Toolstation in 2011) total sales were up 2.9% and the reduction in like-for-like sales was smaller at -3.2%.

These trends mean that our outlook for the year as a whole remains unchanged from that stated in our October Interim Management Statement. We remain on target to meet consensus earnings per share and are on track to achieve our net debt target of approximately £450m at the year end.

Our next update will be the release of our 2012 preliminary results on Wednesday 20 February 2013.

Source : Travis Perkins

12 December 2012
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