DIY giant Travis Perkins’ retail division has reported like-for-like sales have declined 0.4% in the 26 weeks to June 30 but total sales have increased 2.1%.
It said Wickes has continued to gain market share and maintained gross margins over the period. It said the rate of market share gain will begin to abate through 2010 as Wickes’ new strategy in the kitchen and bathroom market begins to mature.
Travis Perkins overall said sales were up 4.7% and like-for-likes up 3.4%.
Chief executive Geoff Cooper said: “We are pleased with the overall progress the Group has made in the first six months of the year. Current trading continues to be ahead of management expectations and we now have the confidence to contemplate recommencing paying dividends.”