UK's Travis Perkins hits nearly 16-year low on bleak outlook
01/04/2025 14:55
Updates ** Travis Perkins TPK.L slides as much as 13% to 478p, lowest since July 2009 ** British building materials supplier flags challenging start to 2025, blaming high interest rates and uncertainty over the pace of construction market recovery ** Expects 2025 adjusted operating profit, excluding property profits, to be broadly in line with FY24's 141 mln pounds (~$182 mln) ** Posts 23% y/y drop in 2024 profit ** TPK down ~25% YTD, as of last close ($1 = 0.7741 pounds) Crumbling profits https://reut.rs/4i02gT5 (Reporting by Rupali Chaudhary and Aby Jose Koilparambil in Bengaluru) ((Rupali.Chaudhary@thomsonreuters.com))