REG-Travis Perkins Travis Perkins plc - first quarter trading update for the three months to 31 March 2024

Travis PerkinsAnnouncement

25/04/2024 07:15

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   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

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                                 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

    

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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:  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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