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| Wickes owner sees signs of housing market revival | |
| (about 17 hours later) | |
| Travis Perkins, owner of the Wickes DIY chain, has touted signs of recovery in the home improvement market despite revealing a gloomy start to 2013. | Travis Perkins, owner of the Wickes DIY chain, has touted signs of recovery in the home improvement market despite revealing a gloomy start to 2013. |
| The builders merchants, which also owns the Tile Giant and Toolstation brands, reported a 5.1% fall in underlying sales in the first seven weeks of the year after snow and heavy rains put a dampener on building projects. | The builders merchants, which also owns the Tile Giant and Toolstation brands, reported a 5.1% fall in underlying sales in the first seven weeks of the year after snow and heavy rains put a dampener on building projects. |
| Analysts said a 7.6% fall in underlying sales in the first seven weeks of 2013 at Travis Perkins' consumer division, which includes the Wickes chain, did not bode well for Kingfisher, the owner of B&Q which is on Thursday expected to report a fall in underlying sales during its fourth quarter. | Analysts said a 7.6% fall in underlying sales in the first seven weeks of 2013 at Travis Perkins' consumer division, which includes the Wickes chain, did not bode well for Kingfisher, the owner of B&Q which is on Thursday expected to report a fall in underlying sales during its fourth quarter. |
| Geoff Cooper, chief executive, said: "There were problems in January because of the poor weather compared to last year but it's not really representative of the market. For the first time in a long time we can see positive signs that suggest a recovery that is going to be steady." | Geoff Cooper, chief executive, said: "There were problems in January because of the poor weather compared to last year but it's not really representative of the market. For the first time in a long time we can see positive signs that suggest a recovery that is going to be steady." |
| He said sales of kitchens and bathrooms had held up as mortgage approvals and housing transactions had improved, but sales of its core building products had been hit by the weather. | He said sales of kitchens and bathrooms had held up as mortgage approvals and housing transactions had improved, but sales of its core building products had been hit by the weather. |
| Travis Perkins saw a 1.4% rise in group revenue in the year to December and a 4.3% rise in operating profit to £327m despite a subdued housing market in 2012. | Travis Perkins saw a 1.4% rise in group revenue in the year to December and a 4.3% rise in operating profit to £327m despite a subdued housing market in 2012. |
| Cooper is expecting the home improvement market to recover in the second half of 2013 but to fall back by between 1% and 2% for the year as a whole putting more pressure on independent builders merchants and DIY stores. | Cooper is expecting the home improvement market to recover in the second half of 2013 but to fall back by between 1% and 2% for the year as a whole putting more pressure on independent builders merchants and DIY stores. |
| Travis Perkins bought 13 Focus stores after its smaller rival went bust in 2011 and it plans to open up to 25 more of its Toolstation stores this year. The 124-strong Toolstation chain, which is backed by a website and catalogue competes with Kingfisher's fast growing Screwfix division. | |
| • This article was amended on 21 February. The original headline referred to "Wickes and Focus owner", but Focus DIY was wound down in 2011. |