Business
Travis Perkins plc: Full year results for the y...
Travis Perkins plc: Full year results for the y....
About this update from Travis Perkins Plc
[{"type":"text","content":"\n \n\n\nTravis Perkins (TPK)\n\n\n\nTravis Perkins plc: Full year results for the year to 31 December 202228-Feb-2023 / 07:00 GMT/BST\n\n\n28 February 2023\n\n \n\nTravis Perkins plc, a leading partner to the construction industry, announces its full year results for the year to 31 December 2022\n\n \n\nA resilient trading performance in rapidly changing market conditions\n\nFinancial Highlights\n\nRobust revenue growth of 8.9% with elevated levels of materials cost inflation diligently managed\n Adjusted operating profit of £295m, impacted principally by lower year-on-year property profits and a £15m charge related to restructuring activities in Q4 \n Adjusted earnings per share of 94.6p with lower operating profit partially offset by reduced share count\n Proactive cost actions to deliver benefits of around £25m in 2023 \n Good cash conversion at 67%; lease-adjusted leverage (net debt / EBITDA) of 1.8x remains comfortably within target range\n Total ordinary dividend increased to 39.0 pence per share (2021: 38.0 pence per share)\nOperational Highlights\n\nSolid performance in the Travis Perkins General Merchant, with further share gains, driven by focus on enhancement of digital capability and expansion of value-added services primarily across Hire, Benchmarx kitchens and Managed Services\n Continued strong performance from the Group’s specialist distributors – BSS, Keyline and CCF. Staircraft now integrated and enhancing the Group’s housebuilder proposition.\n Toolstation returned to good growth in H2 after tough prior year comparatives in H1. Significant investment in expanding infrastructure across both the UK and Europe.\n Positive progress towards sustainability targets, notably a 34% reduction in Scope 1 & 2 carbon emissions during the year\n \n\n\n £m (unless otherwise stated)\n \n \n Note\n \n \n 2022\n \n \n 2021*\n \n \n Change\n \n \n Revenue\n \n \n 6\n \n \n 4,995\n \n \n 4,587\n \n \n 8.9%\n \n \n Adjusted operating profit¹\n \n \n 7a\n \n \n 295\n \n \n 353\n \n \n (16.4)%\n \n \n Adjusted operating profit excluding property profits and restructuring charge¹\n \n \n \n \n \n 285\n \n \n 304\n \n \n (6.3)%\n \n \n Adjusted earnings per share¹\n \n \n 15b\n \n \n 94.6p\n \n \n 107.3p\n \n \n (11.8)%\n \n \n Adjusted ROCE¹\n \n \n 18\n \n \n 10.8%\n \n \n 14.1%\n \n \n (3.3)ppt\n \n \n Adj...