DJ Travis Perkins plc - trading update
Travis Perkins (TPK) Travis Perkins plc - trading update 16-Jun-2023 / 07:00 GMT/BST
-----------------------------------------------------------------------------------------------------------------------
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 GBP240m
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 GBP240m.
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
----------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
-----------------------------------------------------------------------------------------------------------------------
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 =------------------------------------------------------------------------------------
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1658559&application_name=news
(END) Dow Jones Newswires
June 16, 2023 02:00 ET (06:00 GMT)
