Travis Perkins, which operates in the building supplies & tools sector as well under a number of brands, including Toolstation, has posted annual revenues of £4.86bn for the year to 31st December 2023. This down from £4.99bn for the previous year with pre-tax profts also falling to £70m from £245m.
CEO Nick Roberts said: “Ongoing economic challenges have significantly impacted our trading performance, driven by weakness in the new-build housing and domestic RMI sectors, and compounded by deflationary pressures on commodity products. Faced with these challenges, we have invested to protect and build our leading market positions.
“We are also accelerating changes to our operating model, leveraging our scale to create a simpler, more efficient business. This will be achieved by simplifying our operational structures, consolidating our supply chain, creating shared procurement capacity, and embedding new technology.”
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