Travis Perkins plc - first quarter trading update for the three months to 31 March 2024
April 25 2024 - 2:00AM
EQS Regulatory News
Travis Perkins (TPK)
Travis Perkins plc - first quarter trading update for the three
months to 31 March 2024
25-Apr-2024 / 07:00 GMT/BST
25 April 2024
Travis Perkins plc, a leading
partner to the construction industry, announces its first quarter
trading update for the three months to 31 March 2024
As anticipated, trading remained challenging as macroeconomic
uncertainty continues to impact demand across the construction
sector. This resulted in Group revenue being down by (3.7)%* in the
first quarter.
The General Merchant business continues to gain market share
but, with trading volumes remaining subdued, sales across the
Merchanting segment were down by (4.4)%* in the quarter. Pricing
has largely stabilised but remains lower than prior year, primarily
due to the rollover impact of timber deflation, with this trend
expected to continue through the first half of the year.
Toolstation UK, facing into weak RMI demand, saw revenues
decline by (0.9)%*. The business remains focused on delivering
long-term loyalty and sustainable value leadership whilst driving
benefits from recent infrastructure investment.
Following the delivery of £35m of cost savings from a
reduction in regional and central headcount, work continues to
address loss-making activities within the Group’s portfolio and to
access longer-term structural benefits. These will be achieved
through the simplification of the Group’s operating model, reducing
supply chain costs and harnessing the benefits from new technology.
Management will provide an update on progress at the Group’s half
year results on 6th August 2024.
Q1 2024
|
Merchanting
|
Toolstation
|
Group
|
Price and mix
|
(4.2)%
|
2.5%
|
(3.1)%
|
Like-for-like volume
|
0.0%
|
(3.4)%
|
(0.6)%
|
Like-for-like revenue
growth
|
(4.2%)
|
(0.9)%
|
(3.7)%
|
Network changes
|
(0.2)%
|
0.9%
|
0.0%
|
Trading days
|
(1.6)%
|
1.2%
|
(1.2)%
|
Total revenue growth
|
(6.0)%
|
1.2%
|
(4.9)%
|
* Trading day adjusted
Enquiries:
Travis Perkins
|
|
FGS Global
|
Matt Worster
|
|
Faeth Birch / Jenny Davey / James Gray
|
+44 (0) 7990 088548
|
|
+44 (0) 207 251 3801
|
matt.worster@travisperkins.co.uk
|
|
TravisPerkins@fgsglobal.com
|
Dissemination of a Regulatory Announcement, transmitted by EQS
Group.
The issuer is solely responsible for the content of this
announcement.
|
| |
ISIN: |
GB00BK9RKT01 |
Category Code: |
QRF |
TIDM: |
TPK |
LEI Code: |
2138001I27OUBAF22K83 |
OAM Categories: |
3.1. Additional regulated information required to be disclosed
under the laws of a Member State |
Sequence No.: |
317749 |
EQS News ID: |
1888773 |
|
End of Announcement |
EQS News Service |
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