Travis Perkins sales growth slows, says outperforming market

LONDON, Oct 17 (Reuters) - Travis Perkins (LSE: TPK.L - news) , Britain's No. 1 supplier of building materials, posted slowing sales growth in its third quarter though it still won market share, it said on Friday.

The firm, which trades from 16 other brands including Wickes, City Plumbing, Keyline, Tile Giant and BSS, said sales at outlets open over a year rose 5.7 percent in the three months to Sept. 30.

That compares with like-for-like growth of 10.2 percent in the first half.

The firm said trading was consistent with its expectations at the start of the year.

"Trading has remained strong for most of our businesses ... We have outperformed our markets whilst making strategic investments that we are confident will support continued market share gains," said Chief Executive John Carter.

Travis Perkins has benefited from the upturn in UK building activity and the strength of housing transactions, though there have been signs the housing market has cooled in recent months.

Like-for-like sales in the general merchanting division rose 10.9 percent and were up 6.4 percent in the consumer division, which includes Wickes, and up 9.6 percent in the contracts business. However, they fell 5.1 percent in the plumbing and heating division, reflecting a weaker than expected market.

Shares (Berlin: DI6.BE - news) in Travis Perkins, which entered the FTSE 100 index of Britain's largest companies in June last year, have fallen 13 percent so far this year.

The stock closed at 1,637 pence on Thursday, valuing the business at about 4 billion pounds (6.43 billion). (1 US dollar = 0.6218 British pound) (Reporting by James Davey; Editing by Neil Maidment)