Healthy figures suggest renovation market is still going strong

Despite predictions of a home renovationindustry slowdown, Travis Perkins, the building supplier and home improvement retailer, has announced an increase in profitability - suggesting that the market remains robust.

Although the firm has said it will retain its watchful outlook, figures for August show that profit augmented by 16.5 per cent.

What's more, the turnover for Travis Perkins, which recently acquired seven Focus DIY stores to supplement its Wickes home improvement chain, has risen by 11.3 per cent for the first nine months of the year on last year's equivalent figures.

"Our business continues to make good progress in the second half of 2007, with further gains in market share, an acceleration of network expansion and improved profitability and returns," the company said in a statement.

The Wickes branch itself saw total turnover rise by 8.5 per cent for the nine months to September 29th and like-for-like sales improved by 5.7 per cent.

Travis Perkins added that they expected growth to continue into 2008 and beyond - thereby providing an optimistic view of the health of the home renovation market.

Find your perfect renovation opportunity with BuildStore's PlotSearch.


© Adfero Ltd