Revival expected in second half
Like-for-like sales at Travis Perkin's retail division Wickes were down 7 per cent for the half-year, but a 'gradual recovery' is expected in the second-half.

Total group like-for-likes decreased 1.6 per cent for the six months to June 30. Profit before tax was£110.4 million, up 0.4 per cent over the half-year.

Both the trade and retail divisions achieved increases in market share, pre-tax profits and productivity.

The group said the integration of the Wickes DIY business was continuing to progress smoothly, with the first phases completed successfully and the second due for completion early next year.

It has secured its year-two synergy and buying gains from the acquisition and those targets are more than the synergies seen when the deal was first announced.

However, it added that the difficult trading environment continues to hold back the recovery process.

Chief executive Geoff Cooper said: 'We maintain our view that there will be a gradual recovery in market activity in the second half and we are well-positioned to benefit from this.'