REG-Travis Perkins Travis Perkins - Wickes Q4 2019 Trading update and Capital Markets Day: Continued strong performance across both Core and DIFM (Do-it-for-me)

Travis PerkinsAnnouncement

29/01/2020 07:00

============

   Travis Perkins (TPK)
   Travis Perkins - Wickes Q4 2019 Trading update and Capital Markets Day:
   Continued strong performance across both Core and DIFM (Do-it-for-me)

   29-Jan-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.

   ══════════════════════════════════════════════════════════════════════════

   29 January 2020

   Travis Perkins plc

                                        

            Wickes - Q4 2019 Trading update and Capital Markets Day

     Continued strong performance across both Core and DIFM (Do-it-for-me)

                                        

   Travis Perkins

                                        

   In December  2018, the  Travis Perkins  Group announced  a strategic  plan
   formulated around  two  key pillars;  to  focus on  its  advantaged  trade
   businesses, and to simplify  the Group to enable  a more streamlined  cost
   structure and faster decision making.  In line with these strategic  aims,
   and following a  significant improvement in  the financial performance  of
   the Wickes business in the first half of 2019, the Group announced in July
   2019 the intention to demerge Wickes.

    

   Acting as separate listed entities will enable the management team of each
   company to focus  on delivering a  distinct business plan  to deliver  the
   best service  to  their  primary customer  base,  allocating  capital  and
   resources in the optimum way to deliver sustainable returns.

    

   Wickes

    

   Today,  the  Wickes   management  team  is   hosting  a  capital   markets
   presentation to set out its  strategy as a digitally-led,  service-enabled
   home improvement  business, together  with updating  the market  on  sales
   performance for the final quarter of 2019.

    

   At the  event, the  Wickes  management team  will  provide detail  on  the
   investment case, which  will include  an overview of  the unique  customer
   proposition, financial framework  and vision for  growth across both  Core
   (Local Trade and DIY) and DIFM (Do-it-for-me).

    

   Wickes delivered  like for  like sales  growth  of 4.5%  in Q4  driven  by
   continued strong performance across both Core and DIFM. For the full year,
   like-for-like sales growth was 8.7% and total sales grew by 7.7%.  

   Q4 2019 sales growth            Core  DIFM Wickes(1)
   Like-for-like sales growth      5.1%  3.2%      4.5%
   Total sales growth              4.2%  1.7%      3.4%
                                                       
   YTD 2019 sales growth           Core  DIFM    Wickes
   Like-for-like sales growth      6.5% 14.1%      8.7%
   Total sales growth              5.7% 12.8%      7.7%
   Two-year total sales LFL growth                 4.0%
                                               

    

    

   David Wood, Wickes CEO, commented:

    

   "I am delighted to report a strong sales performance for Wickes in Q4  and
   for the  full year,  setting us  up well  for the  intended demerger  from
   Travis Perkins, which remains on track for Q2 2020.

    

   "I would like to thank all  my colleagues for their hard work,  dedication
   and focus  on delivering  for our  customers, which  has driven  excellent
   performance across the  year. We are  looking forward to  our future as  a
   standalone business, building towards  our vision of  a Wickes project  in
   every  home,  allowing  us   to  create  long-term   value  for  all   our
   stakeholders.

    

   "We have great  confidence in our  strategy, which is  centred around  our
   strong brand, a distinctive and hard to replicate customer proposition,  a
   uniquely balanced business and a  low cost and efficient operating  model.
   We are pleased with the growth  Wickes is delivering and confident in  our
   ability to continue to grow. We  look forward to providing more detail  on
   this at today's Capital Markets Day."

    

   The presentation and a  webcast of the event  will be made available  from
   12.45pm GMT  via  1 www.travisperkinsplc.co.uk/investors.    An  on-demand
   recording of the event will also  be published on the 30th January.  There
   will be no new disclosures on current trading conditions.

    

   Investor / analyst enquiries

   Graeme Barnes | +44 7469 401819 | graeme.barnes@travisperkins.co.uk 
   (Travis Perkins)

   Zak Newmark | +44 7384 432560 |  2 zak.newmark@wickes.co.uk (Wickes)

    

   Media enquiries

   Justin Griffiths, James White | Powerscourt | +44 20 7250 1446 (Travis
   Perkins)

   Lucy Legh, Henry Wallers | Headland | +44 20 3805 4822 (Wickes)

    

   Footnotes

    1. Wickes Q4 like-for-like and total sales growth for the 13 week period
       ended 28 December 2019 compared to the 13 week period ended 29
       December 2018.

    

   ══════════════════════════════════════════════════════════════════════════

   ISIN:          GB0007739609
   Category Code: MSCM
   TIDM:          TPK
   LEI Code:      2138001I27OUBAF22K83
   Sequence No.:  43233
   EQS News ID:   962951


    
   End of Announcement EQS News Service

   ══════════════════════════════════════════════════════════════════════════

    3 fncls.ssp?fn=show_t_gif&application_id=962951&application_name=news&site_id=refinitiv2

References

   Visible links
   1. https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=2be24c2d7b70074836802957afff4c05&application_id=962951&site_id=refinitiv2&application_name=news
   2. mailto:zak.newmark@wickes.co.uk


============