Business
Travis Perkins plc - trading update
Travis Perkins plc - trading update.
About this update from Travis Perkins Plc
[{"type":"text","content":"\n \n \n \n\n\nTravis Perkins (TPK)\n\n\n\n\n\n\nTravis Perkins plc - trading update 16-Jun-2023 / 07:00 GMT/BST\n\n\n16 June 2023\n\n \n\nDissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR)\n\n \n\nTravis Perkins plc - trading update\n\n \n\nIn light of ongoing challenging market conditions, full year adjusted operating profit now expected to be around £240m\n\n \n\nThe 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.\n\n \n\nThe 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.\n\n \n\nAssuming that the present conditions persist for the balance of the year, Management now expects to deliver a full year adjusted operating profit of around £240m.\n\n \n\nThe Group will report half year results for the six months to 30 June on 1 August 2023. \n\n \n\nThe person responsible for making this announcement is Alan Williams, Chief Financial Officer. \n\n \n\nEnquiries:\n\n\n Travis Perkins\n \n \n \n \n \n FGS Global\n \n \n Matt Worster\n \n \n \n \n \n Faeth Birch / Jenny Davey / James Gray\n \n \n +44 (0) 7990 088548\n \n \n \n \n \n +44 (0) 207 251 3801\n \n \n [email protected]\n \n \n \n \n \n [email protected]\n \n \n\n \n\n \n\n\n\n\n\n\n\n\n\n\n\nDissemination ...