Travis Perkins chairman Tim Stevenson said the retailer would continue to develop the Wickes brand through new sites. He said: 'We have made a good start to 2005, with our early work confirming our view of the synergies available from the acquisition of Wickes. Despite a slowing of consumer spending in February, as experienced by many retailers, we see enhanced earnings growth from the Wickes acquisition. We will continue to grow our business by investing in a plentiful supply of opportunities for Travis Perkins acquisitions and for new sites for both Wickes and for merchant branches.'
Travis Perkins acquired Wickes on December 16 in a cash deal worth£850 million. At the time, the DIY chain operated 172 stores and had accrued sales of£911 million for the year to October 31 last year.
Read Retail Week's interview with Wickes IT director Keith Riley this Friday in the Technology section.