Hi, we've made some changes

Travis Perkins sales up, slowing markets

Related Companies

Related Indices

Related Sectors

News for Spread Betters

PreviousPrevious
NextNext

There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

Get full details about Marketmaker:Investor Edition here. Advertisement

Date: Tuesday 13 May 2008

LONDON (ShareCast) - Builders merchant Travis Perkins reported a 6.8% rise in turnover in the first four months of 2008, but said it expects markets to weaken further as the year progresses. 

Turnover in the group’s merchanting division was up by 8.2%, with like-for-like turnover per trading day up by 3.0%. The specialist merchanting business increased total turnover by 10.9% and like-for-like turnover per trading day by 3.1%.

In the group’s retailing division total turnover for the 17 week period ending April 26 was up by 3.3%. Tile Giant represented 1.8% of this increase and Wickes 1.5%.

Travis Perkins said cash flow remains good with productivity ahead of 2007, adding that headcount will continue at a level of around 800 or 5% below the originally planned level throughout the year due to the difficult market outlook.

“Recent lead indicators, particularly from the housing market, and on declining consumer confidence and disposable income, confirm this continued slowing of activity levels,” said chairman Tim Stevenson.

“In that context, with our resilient business model and increased banking facility, we are in a sound position to mitigate the cash and profit effect of a tougher trading environment,” he added.

Digital Look have been voted
"Best Research and Information Provider"

4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
Registered in England and Wales (registered no. 3678570).