REG-Travis Perkins Travis Perkins: Trading update for six months to 30 June 2020

Travis PerkinsAnnouncement

28/07/2020 07:00

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   Travis Perkins (TPK)
   Travis Perkins: Trading update for six months to 30 June 2020

   28-Jul-2020 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   28 July 2020

   Travis Perkins plc - H1 2020 Trading update

   In advance of the announcement of  interim results on 08 September,  today
   Travis Perkins sets out a trading update covering sales figures by quarter
   for the first half of 2020.

   Nick Roberts, CEO, commented:

   "Since the  trading update  on  15 June,  the  business has  continued  to
   recover  well  with  good  demand  from  RMI  and  infrastructure  markets
   offsetting ongoing challenges in the new build and commercial construction
   sectors.

   We remain cautious as to the  near-term headwinds facing our business  and
   the wider  economy, nevertheless  the decisive  actions we  have taken  to
   manage our cost base mean that we  are well placed to continue to  service
   our  customers,  support  our  colleagues  and  generate  value  for   our
   shareholders."

   Trading performance

   Overall, Group revenue for the first six months of 2020 was £2,780m,  down
   20% on the same period in 2019 (£3,484m) due to the significant impact  of
   the COVID-19 pandemic and resulting lockdown. 

   Quarterly sales by segment

   H1 2020                     Merchanting Toolstation Retail     P&H   Group
   Like-for-like sales             (25.8)%       12.9% (8.2)% (22.8)% (19.3)%
   Net new space and                (0.7)%       23.6% (0.8)% (11.1)%  (1.5)%
   acquisitions
   Trading days                       0.6%        0.6%   0.5%    0.6%    0.6%
   Total sales growth              (25.9)%       37.1% (8.5)% (33.3)% (20.2)%

    

   Q2 2020                    Merchanting Toolstation  Retail     P&H   Group
   Like-for-like sales            (42.8)%       16.5% (19.8)% (48.4)% (34.8)%
   Net new space and               (0.5)%       26.0%  (0.5)%  (8.4)%  (0.9)%
   acquisitions
   Trading days                         -           -       -       -       -
   Total sales growth             (43.3)%       42.5% (20.3)% (56.8)% (35.7)%

    

                       Merchanting Toolstation  Retail     P&H   Group
   Q1 LFL Sales Growth      (8.7)%        9.1%    4.5%  (1.9)%  (3.8)%
   Q2 LFL Sales Growth     (42.8)%       16.5% (19.8)% (48.4)% (34.8)%

     

   Q2 like-for-like sales progression by month

         Merchanting Toolstation  Retail     P&H   Group
   April     (73.1%)      (1.9%) (53.1%) (69.1%) (63.6%)
   May       (37.4%)       23.8% (32.1%) (53.0%) (34.6%)
   June      (17.6%)       27.6%   21.7% (23.4%)  (6.7%)
   Q2        (42.8%)       16.5% (19.8%) (48.4%) (34.8%)

    

   Since the most recent update in mid-June, the Merchanting businesses  have
   continued to  recover  well  with  the  improvement  in  RMI  markets  and
   infrastructure  spending  proving   to  be  more   robust  than  the   new
   housebuilding and  commercial  construction markets.  Plumbing  &  Heating
   markets are also recovering more  gradually as projects are  predominantly
   carried out indoors.

   Toolstation and Wickes continue to benefit from strong DIY sales delivered
   through market-leading multi channel capability. Overall, Wickes  achieved
   strong sales growth  in June  following the  re-opening of  its stores  to
   customers in late May, with significant growth in core DIY categories more
   than offsetting the slower recovery in Kitchen & Bathroom installations.

   Despite the closure of 165 branches in June, representing around 8% of the
   Group's overall estate, the Group has continued to experience an improving
   trend on total sales volumes so far in July, with the Group's total  sales
   run rate now close to prior year.

   At 30 June 2020, the  Group had £455m of cash  on deposit giving a  strong
   overall liquidity headroom position of £855m.

   Enquiries:

   Travis Perkins                         Powerscourt
   Graeme Barnes                          Justin Griffiths / James White
   +44 (0) 7469 401819                    +44 (0) 207 2501446
    1 graeme.barnes@travisperkins.co.uk   travisperkins@powerscourt-group.com
                                           

    

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   ISIN:          GB0007739609
   Category Code: TST
   TIDM:          TPK
   LEI Code:      2138001I27OUBAF22K83
   Sequence No.:  78263
   EQS News ID:   1103187


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:graeme.barnes@travisperkins.co.uk


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