Understand
Northampton-based Travis Perkins reports falling sales amid economic uncertainty
Overview
Building materials supplier Travis Perkins has reported a drop in sales due to ongoing macroeconomic uncertainty within the construction industry, particularly affecting the new build residential sector. The Northampton-based company saw like-for-like revenue fall by 1.3% in the three months to 30 September, prompting a focus on cost discipline and protecting profitability.
Key points
- Travis Perkins reported a 1.3% fall in like-for-like revenue in the three months to 30 September.
- Like-for-like revenue dropped by 0.9% in the year to the end of September.
- The company blamed a subdued industry, particularly in the new build residential sector, driven by persistent macroeconomic uncertainty.
- Toolstation UK, a brand within the group, experienced a 3.6% increase in like-for-like revenue during the same three-month period.
- Chief executive Gavin Slark stated that the company is focusing on cost discipline, operational efficiencies, and protecting profitability amidst challenging market conditions.