Figures released by the BMF (Builders Merchants Federation) in the Plumbing and Heating Merchants Index (PHMI) for the third quarter of 2025 suggest that the overall performance was held back by poor sales in August.

Year on Year
Quarter 3 2025 v Quarter 3 2024

Total value sales in Q3 2025 increased by 2.8% compared with the third quarter of 2024, however, this reflects an increase in sales price, rather than sales volume growth.  While volume sales fell by 2.5%, prices rose by 5.4%.  

The overall performance was held back by a fall in value sales in August (2.6%), whereas both July (4.1%) and September (6.6%) saw year-on-year value sales increase. 

Quarter on Quarter
Quarter 3 2025 v Quarter 2 2025

Total value sales in Q3 2025 were 5.2% higher compared with the second quarter of the year, with both volume sales and prices increasing.  Volume sales were up by 3.5%, while prices rose by 1.7%. 

However, with four more trading days in Q3 2025, like-for-like value sales were 1.3% lower than in the second quarter of the year.

Year to date:
(January – September 2025 v January to September 2024) 

Year to date, value sales in the first nine months of 2025 increased by 3.0% over the same period in 2024.  Volume sales increased by 0.3%, and prices rose by 2.7%.

With one less trading day during the latest period, like-for-like value sales were 3.5% higher.

Latest 12 months v previous year
(October 2024-September 2025 v October 2023-September 2024)

Total value sales in the 12 months October 2024 to September 2025 were up by 2.4% compared to the previous 12 month period.  Volume sales increased by 1.6%, while prices rose by 0.7%. 

There was no difference in trading days.

The data for the PHMI is taken solely from P&H specialists, including City Plumbing Supplies, James Hargreaves Plumbing Depot, Plumbfix, PTS, Williams & Co, and Wolseley, who form part of NiQ GfK’s Plumbing & Heating Merchants Panel, and there is no overlap or double counting between the PHMI and the BMF’s established Builders Merchants Building Index which analyses sales at generalist merchants.