REG-Travis Perkins Travis Perkins plc - trading update

Travis PerkinsAnnouncement

16/06/2023 07:15

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   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 £240m

                                        

   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 £240m.

    

   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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