Toolstation rockets 70% on 2019 numbers

Travis Perkins-owned Toolstation has seen a big sales rise compared to pre-Covid levels.

A strong sales performance has continued throughout Q2, however the group notes "inflationary pressures" brought about by supply constraints and high demand.

Toolstation UK year-to-date sales are 70% up on 2019 levels, while Toolstation Europe has grown strongly ahead of expectations.

The merchanting part of the Travis Perkins business is 6.3% up on 2019 in terms of sales.

The Board now believes that adjusted operating profit for the full year will be "materially ahead of market expectations" and - all being well - at least £300m.

It also said it was well placed to manage the "well documented challenges on both inflation and materials".

"The ongoing strength of the Group's trading performance through the second quarter remains underpinned by demand in both domestic and commercial RMI markets.," said Chief Exec Nick Roberts. "Our Merchanting businesses have recovered strongly while Toolstation's performance continues to be ahead of expectations. Whilst we are experiencing inflationary pressures across a number of product ranges, due to high demand and supply constraints, we are focused on working with both our suppliers and customers to ensure consistency of supply and fair outcomes for all."

Are you in the fastener, tool, fixing or related industries? You can subscribe to Torque Magazine or sign up to our weekly newsletter.