Travis Perkins plc (TPK.L), on Thursday, issued a Q3 trading update and reported a 5.7% decline in group revenue, hit by the Merchanting segment. Like-for-like revenue for the period was down by 6.8%.
Given the shortfall in the Merchanting segment, the Board now expects FY24 adjusted operating profit to be around £135 million.
Further, the company expects to see positive growth in these underlying markets over the next twelve months, but this growth will be slow and non-linear at the outset, with the benefit to financial performance starting to be realised in the second half of 2025.
Pete Redfern, Chief Executive of Travis Perkins plc, said, "…Over the last nine months the team has made good progress on implementing cost discipline, improving working capital management and exiting Toolstation France. In addition to supporting these ongoing actions, my immediate priorities are driving and incentivising branch-led performance and motivation, identifying further ways to make the business run more efficiently and ensuring that we turn and face the anticipated recovery in the UK construction market…"
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.