Travis Perkins plc (TPK) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

So we're ready to start. Good morning everybody and welcome to the Travis Perkins half year results. I'm going to kick off with a short introduction and then I will hand over to Duncan who will take you through the financials in a lot more detail. That's why he's got the very thick blue ring binder there with all of the detail. I'm just standing up here. Look, I stepped in in March and was somewhat unexpectedly on this stage in March and unsurprisingly there was a fair bit of uncertainty both internally and externally in terms of what all of that meant. So what we look to do, sorry let me get this right. What we tried to do was settle down the business by focusing on three very clear priorities. First one was, look, we needed a credible permanent CEO to take the business forward long term. And we also needed to address the losses in market share in the merchanting business. So this required us to address a series of organizational issues and very importantly address a significant systems issue that we were facing during the course of last year. And finally, on a more positive note, I felt the tool station was at an important inflection point and we should be a little more demanding in terms of both its growth potential and continuing that growth trajectory, but also recognising the potential for it being a more significant profit contributor. How have we done in terms of those three key objectives and how is the achievement of that work playing into our performance as we have moved through the quarter? Well, as you'll have seen, we were delighted to appoint Gavin as CEO. He has a ton of relevant experience and his knowledge and his personality, I think, fit very, very well and I think he will be a seamless addition to to the business. Unfortunately he still can't sta...