161 million
bricks delivered in August 2021, according to ONS figures.
13.1% like- for-like sales growth
at Travis Perkins’ merchanting business.
Travis Perkins on track for profits ahead of expectations
Continuing positive trading momentum means that builders merchant group Travis Perkins is expecting adjusted operating profit for the full year 2021 to be ahead of current market expectations, at in excess of £340m. The merchant has seen continuing like-for-like sales growth of 13.1%, it revealed in a third quarter trading update. The Merchanting business saw like-for-like sales growth of 15.3% (11.8% on a two year like- for-like basis) with the end-user
Marley plugs
float plans Marley, the UK roof tile manufacturer, has postponed a £500 million plan to list on the stock exchange due to “market volatility”. There are rising investor
concerns about the state of the economy and the outlook for markets, due to widespread disruption to global supply chains, spiralling energy prices, and a likely sharp rise in inflation. The FTSE 250 index has fallen by more than 7% from its peak of 24,250.83 at the start of September.
Marley said in a filing to the Stock Exchange that proceeding with its plans against a such volatile backdrop would have been damaging to the company and its backers.
“Whilst Marley has received considerable institutional investor interest . . . the board and shareholders have decided that proceeding with an initial public offering in this period of market volatility is not in the best interests of the group and its stakeholders,” it said.
market demand remaining robust, notably in the RMI sector. Toolstation grew by 1.4% on a like-for-like sales basis (25.2% on a two-year like-for- like basis) in Q3 as the customer mix normalised following the pandemic-fuelled exceptional demand from DIY customers during 2020
Nick Roberts, Chief Executive, said: “The Group has delivered a strong performance in the third quarter and is navigating well- documented supply chain and
Selco gets to 71 branches
Selco Builders Warehouse has opened its 71st UK branch, on Europa Trade Park on Cody Road in Canning Town, London. A 72nd branch is planned for Rochester next month. Howard Luft, chief executive, said: “London and the South East have become real heartlands for Selco in recent years so we are delighted to be strengthening our presence further in those areas. “The coronavirus crisis has been an extremely challenging period for the entire country and
it’s been no different for us at Selco, but we are determined and excited to keep moving the business forward.
“Selco has undergone a major branch expansion over the last decade and we are committed to continuing to support UK tradespeople by providing unrivalled availability, as well as excellent customer service and trade pricing.”
Pavestone buys back shares
Landscaping supplier Pavestone UK Limited, has completed a buyback of 54.8% of its issued shares.
Following the death of founder Kevin Fowler in July 2020, the Fowler Trustees (beneficiary), approved the sale and transfer of the shareholding back to the company. Funding for the share purchase was achieved through accrued retained profits and without the requirement of venture capital, additional or new shareholder funding.
November 2021
www.buildersmerchantsjournal.net
Pavestone Group CEO Jon Layton said: “I am delighted to confirm that the business continues to be focussed on realising the strategic growth plans in place and further investment to meet our planned growth. Equally importantly is that the business continues to be owned and managed by the existing, experienced, executive team who have helped to guide and build the Company, since its inception in 2003, to the £54m business it is today.”
cost inflation challenges very capably. End market demand remains robust and we are confident that we are in a strong position to deliver future growth. “As outlined at our Investor Update in September, the focus of the Group is to enhance our market leading propositions to win share and to provide new value added services to our customers as the construction process evolves to improve quality, drive efficiency and reduce carbon and waste.”
68m tonnes
of carbon emissions comes directly from UK houses heated by gas boilers.
NEWS IN BRIEF
Liverpool-based independent Beers Timber & Building Supplies is opening its first specialist paint and decorating branch, to be called Decor at Beers, located on the Darlingtons Industrial Estate, Heswall, Wirral. The branh will feature a full range of paints, wallpapers, decorating items & accessories. Heading up this branch is Louise Leatherbarrow. The company is also expanding its specialist plumbing & heating network with a new MBS Plumbing & Heating branch in Thelwall Lane, Latchford, Warrington.
Merchant software supplier ECI Software Solutions has bought Merchant Systems Group Limited, the UK developer of the eCommonSense platform. eCommonSense will remain a standalone eCommerce solution but will also join ECI’s LBM and Hardlines group, as part its cloud-based ERP solutions. Andy Scothern, CEO and founder, eCommonSense, says: “When I first entered into a partnership with ECI, I was struck by how similar our missions were: to provide building suppliers and merchants with the technology they need to create the strongest businesses possible.”
The latest report from the Housing, Communities and Local Government Select Committee on the Government’s plans to reach its net zero targets is a welcome look at what needs to be done to help decarbonise the UK’s homes, according to the Federation of Master Builders.
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