Travis Perkins plc - trading update (1658559)
June 16 2023 - 1:00AM
UK Regulatory
Travis Perkins (TPK) Travis Perkins plc - trading update
16-Jun-2023 / 07:00 GMT/BST
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16 June 2023
Dissemination of a Regulatory Announcement that contains inside
information according to REGULATION (EU) No 596/2014 (MAR)
Travis Perkins plc - trading update
In light of ongoing challenging market conditions, full year
adjusted operating profit now expected to be around GBP240m
The Group delivered a resilient performance in the first quarter
but has not seen the anticipated easing of market conditions in the
second quarter to date. Volumes in both the new build housing and
private domestic RMI markets continue to be impacted by higher
interest rates and weaker consumer confidence driven by persistent,
higher than anticipated consumer price inflation. By contrast, the
Group continues to see more resilient performance across its other
end markets - namely commercial, industrial, infrastructure and
public sector housing - and Toolstation continues to perform in
line with expectations both in the UK and Europe.
The Group is driving the trading strategy to effectively
navigate the near-term market conditions, alongside its ongoing
focus on delivering operational efficiencies in the business.
Carefully targeted investment continues in order to ensure that the
Group remains well placed to benefit from a recovery and the long
term structural drivers in its end markets, including the long term
undersupply of new housing and the retrofitting of domestic and
commercial properties.
Assuming that the present conditions persist for the balance of
the year, Management now expects to deliver a full year adjusted
operating profit of around GBP240m.
The Group will report half year results for the six months to 30
June on 1 August 2023.
The person responsible for making this announcement is Alan
Williams, Chief Financial Officer.
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
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Dissemination of a Regulatory Announcement, transmitted by EQS
Group. The issuer is solely responsible for the content of this
announcement.
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ISIN: GB00BK9RKT01
Category Code: TST
TIDM: TPK
LEI Code: 2138001I27OUBAF22K83
OAM Categories: 2.2. Inside information
Sequence No.: 251301
EQS News ID: 1658559
End of Announcement EQS News Service
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