Travis Perkins share price: Group issues Q1 trading update

Travis Perkins (LON:TPK) today released its first-quarter trading update, covering the three-month period ended March 31.

**Highlights from the company’s statement:**
Total sales growth of 7.2%; Like-for-like sales growth of 5.1%; Two-year like-for-like sales growth of 18.4% demonstrates strong and consistent progress; Overall trading in line with expectations
John Carter, Chief Executive, commented: “The majority of our businesses performed well against strong comparators in the first quarter, driven by the investments we have made to improve our propositions in the initial stages of our five-year plan.
The modernisation programme in General Merchanting is now underway and contributed to our market outperformance. The Wickes team have built on the positive customer feedback and success of 2014 and continue to take market share. The Plumbing & Heating division is fully focused on its branch network re-segmentation, however the market remains challenging. The Contracts division continues to grow strongly through significant market share gains.
Our three priorities for the year ahead remain unchanged; the modernisation of Travis Perkins, the transformation of Wickes, and the re-segmentation of the Plumbing & Heating businesses. The progress we are making underpins our confidence that the plans we have in place and the investments we are making will support further outperformance of our markets, medium-term double digit operating profit growth and continued growth in return on capital.”
**More to follow..**
As of 07:25 BST, Wednesday, 22 April, Travis Perkins plc share price is 2,019.00p.