Travis Perkins PLC (LON:TPK) has said it is on track to achieve full year expectations as it reported an improvement in underlying quarterly sales growth despite a challenging market backdrop.
The FTSE 250-listed group - Britain's biggest supplier of building materials - said like-for-like sales rose 4.1% in the third quarter of 2017, an increase from the 2.7% growth seen in the first half.
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The firm - which trades from over 20 businesses including Wickes, BSS, Toolstation and Tile Giant – said total sales growth was maintained at 3.5% but added that it remained cautious on the market outlook and continued to carefully manage its underlying cost base.
Travis Perkins said its volumes were broadly flat in the quarter with inflation driven price increases the main component of like-for-like growth.
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The group’s chief executive John Carter commented: "Trading conditions in our markets continue to be mixed, with consumer discretionary spending under pressure from rising inflation and on-going uncertainty in the UK economy.”