Travis Perkins Plc (TPK.L) said in its trading update that group turnover for the eleven months to the end of November 2009 was down 8.5% from the equivalent period in 2008.
The company noted that group trading for the last two months since its October Interim Management Statement is a little ahead of its expectations. This, together with further one-off employment related savings, means that Travis Perkins now expects earnings to be at the upper end of market expectations for 2009. However, given the probable pressures on both consumer and trade spending in 2010, the company's outlook for 2010 remains unchanged from that stated two months ago. Therefore, Travis Perkins' view of the current market consensus for 2010 also remains unchanged.
For comments and feedback: editorial@rttnews.com