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Q4 MERCHANT SALES FIGURES CONFIRM SLOWDOWN
Figures for the final quarter of 2022, published at the end of February in the BMF’s Builders Merchants Building Index revealed sales through UK builders’ merchants slowing.
Comparing sales in Q4 2022 with the previous quarter, total sales values in Q4 were -13.9% lower than in Q3 2022. Volume sales dropped by -18.3%, but prices increased by +5.4%. With five less trading days in Q4, like-for-like sales values, adjusted for the difference in trading days, were down by -6.6%.
Only three smaller product categories recorded an increase in sales value, led by Plumbing, Heating & Electrical which grew by +13.2%. Renewables and Water Saving and Workwear & Safetywear both grew by +7.1%
The largest two product categories both recorded double-digit falls, with Heavy Building Materials down by -13.7% and Timber & Joinery down by -16.6%. The seasonal category of Landscaping saw the largest fall as -33.6%.
Comparing the last three months of 2022 with the same quarter in 2021 found total sales in Q4 2022 were up by +2.9%. This was, however, largely price driven with volume sales down by -11.6% and prices up by +16.4%. Adjusted for one less trading day in 2022, like-for-like sales were +4.6% higher.
Ten of the twelve categories saw sales values increase year on year, led by Renewables & Water Saving (+48.6%). Plumbing, Heating & Electrical (+18.6%) and Workwear & Safetywear (+14.8%) had their highest quarter revenue and were among categories which grew faster than Merchants overall. Kitchens & Bathrooms increased by +14.4% and Heavy Building Materials increased by +8.6%.
Landscaping (-5.9%) and Timber & Joinery Products (-11.5%) were the only categories to sell less in Q4 2022 over Q4 2021.
Across the full year the builders merchants sector saw value growth against 2021 of +6.9%, driven by price growth of +16.2% and a volume decline of -8.0%. With three less trading days this year, overall like-for like sales were +8.2% higher.
All categories saw value growth apart from Timber & Joinery, down by -2.2% and Landscaping down by -0.6%.
