(Reuters) -Britain’s Travis Perkins reported a 1.8% rise in third-quarter like-for-like (LFL) sales on Thursday, as the building materials supplier invested in pricing and targeted promotions to win back market share in its core merchanting business.
The revenue growth comes as Travis Perkins battles intense competition in a subdued UK construction market and prepares for new CEO Gavin Slark’s arrival in January.
British construction activity contracted for the ninth month in a row in September as companies delayed major projects ahead of the November budget, a business survey showed this month.
“In what remains a highly competitive market, we have invested in pricing and targeted promotions and will continue to do so in the near-term,” Chair Geoff Drabble said in a statement.
Travis Perkins’ Merchanting unit, which supplies to the construction and home improvement markets, posted like-for-like sales growth of 1.7% in the three months to September 30.
(Reporting by Raechel Thankam Job and DhanushVignesh Babu in Bengaluru; Editing by Subhranshu Sahu)
