LONDON (dpa-AFX) - Retailer Travis Perkins plc (TPK.L) reported Wednesday that its total sales for the months of November and December declined 3.3 percent from last year. On a like-for-like basis, sales increased 8.6 percent.
The company said the end market trends experienced during the third quarter continued into October and November. The company also continued to make good progress on retaining sales from branches closed as part of the restructuring activity during the summer.
Further, the company noted that given the status of Wickes as an essential retailer, and Toolstation also benefiting from the surge in DIY trade during 2020, both businesses will return the business rates relief received as a result of the COVID19 crisis and repay monies received under the Government's Coronavirus Job Retention Scheme.
This totals around 50 million pounds, which will correspondingly reduce the expected outturn for Group adjusted EBITA for 2020.
The company said it continues to expect covenant net debt at the year end to be similar to the 30 June 2020 position.
Copyright RTT News/dpa-AFX