REG-Travis Perkins Travis Perkins plc trading update

Travis PerkinsAnnouncement

22/06/2021 12:15

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   Travis Perkins (TPK)
   Travis Perkins plc trading update

   22-Jun-2021 / 12:11 GMT/BST
   Dissemination of a Regulatory Announcement that contains inside information
   according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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                                 22nd June 2021

    

                        Travis Perkins plc trading update

                                         

   Strong performance continues through the second quarter; full year earnings
         expected to be materially ahead of current market expectations

    

   Following a robust start to 2021, the high levels of growth experienced  in
   March have continued throughout the second quarter, driven by the  strength
   of both the  domestic and commercial  repairs, maintenance and  improvement
   (RMI) markets.

    

   The Merchanting segment  saw total  sales growth  of 6.3%*  vs 2019  during
   April and May.  Toolstation UK continues  to take market  share with  total
   sales YTD  up 70.2%  vs 2019  while Toolstation  Europe continues  to  grow
   strongly with performance ahead of management expectations.

    

   The pace of  the recovery  has led to  well documented  challenges on  both
   inflation and materials  supply on a  number of core  products ranges.  The
   Group's supply chain and network capabilities  mean that it is well  placed
   to manage  these  challenging  circumstances,  working  closely  with  both
   customers and suppliers.

    

   Given the strong recent  trading performance, the  Board now believes  that
   adjusted operating profit  for the  continuing business for  the full  year
   2021 will be materially ahead  of market expectations** and, assuming  that
   there is  no significant  change in  market conditions,  will be  at  least
   £300m.

    

   Nick Roberts, Chief Executive, commented:

    

   "The ongoing strength of the Group's trading performance through the second
   quarter remains underpinned by demand  in both domestic and commercial  RMI
   markets.   Our  Merchanting  businesses   have  recovered  strongly   while
   Toolstation's performance continues to be ahead of expectations. Whilst  we
   are experiencing inflationary pressures across a number of product  ranges,
   due to high demand and supply  constraints, we are focused on working  with
   both our suppliers and customers to  ensure consistency of supply and  fair
   outcomes for all."

    

   * Trading day adjusted

   ** Market  expectations  defined  as  company  compiled  analyst  consensus
   excluding the Wickes and Plumbing &  Heating segments. This stood at  £259m
   at time of publication.

   Enquiries:

   Travis Perkins                          Powerscourt
   Matt Worster                            Justin Griffiths / James White
   +44 (0) 7990 088548                     +44 (0) 207 2501446
   matt.worster@travisperkins.co.uk        travisperkins@powerscourt-group.com
                                            
   Heinrich Richter                         
   +44 (0) 7392 125417                      
   heinrich.richter2@travisperkins.co.uk    

    

    

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   ISIN:           GB00BK9RKT01
   Category Code:  TST
   TIDM:           TPK
   LEI Code:       2138001I27OUBAF22K83
   OAM Categories: 2.2. Inside information
   Sequence No.:   112877
   EQS News ID:    1210700


    
   End of Announcement EQS News Service

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