Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
Trading at builders merchant group Travis Perkins remained challenging during the first quarter, thanks to macroeconomic uncertainty, leading group revenue down on a like-for-like basis by 3.7% in the three months to March 31 2024.
The General Merchant business continues to gain market share, though sales across the Merchanting segment were down by 4.4 % in the quarter, and even Toolstation UK saw revenues decline by 0.9 % on the back of weak RMI demand.
The business, which is making £35m of cost savings reducing the headcount and closing branches, will continue to address loss-making activities within the portfolio by simplifying the operating model, reducing supply chain costs and harnessing the benefits from new technology. Management will provide an update on progress at the Group’s half year results on 6th August 2024.
Last month, Travis Perkins CEO Nick Roberts announced his intention to leave the group, staying on until a successor is appointed.
