Travis Perkins PLC (LON:TPK) confirmed today that the Wickes chain will start trading separately in London on 28 April after the completion of its demerger.
Both Wickes and the remainder of the business are enjoying bumper trading at present, said the FTSE 250 group as people use the COVID-19 lockdowns periods to go on a DIY and repair spree though there was a note of caution on inflation.
Nick Roberts, chief executive, said the environment is increasingly inflationary and "over and above that seen in the second half of 2020, with prices on certain raw material categories, such as timber, copper and steel, rising significantly".
At this stage, however, cost price inflation remains manageable, he added.
Travis Perkins said its sales alone rose by 17.4% in the three months to end-March 2021, with Toolstation the star performer as sales jumped by 42%.
Wickes saw like-for-like sales rise by 19.7% driven by digital and click and collect in spite of the closure of showrooms
Roberts added it had been an encouraging start to the new year.
“The Merchanting business has maintained the momentum seen in the second half of last year while Toolstation continues to outperform.”
Toolstation is on track to open 60 new branches in the UK in 2021, he added, with progress being made in expanding the European business.