Travis Perkins, which also owns Toolstation, lost 57 million from costs incurred from its plan to shut more than 30 branches, putting 600 jobs in jeopardy leading to an overhaul of its supply chain.
Strong focus on costs given mixed market outlook, with 2018 Group ebita anticipated to be in the lower half of the range of analyst expectations.
Interim dividend unchanged.5p per share.Challenging UK DIY market negatively impacting sales and profitability in Wickes, with significant cost reduction plans underway.Financial Summary, financial Highlights, solid revenue growth.4 with like-for-like growth.2.It has created cost pressures on imported goods and materials and the expectations for secondary housing market transactions and growth in the repair, maintenance and improvement market have weakened, he said.He added: Any significant reduction in consumer confidence may have a more pronounced impact on big-ticket purchases such as kitchens and bathrooms which make up around 10 of the groups sales.Good trading performance in the trade focused businesses in General Merchanting, Plumbing Heating, Contracts and Toolstation.Click here to sign up to Retail Gazettes free daily email newsletter.Financial Summary, please Wait.The company, which employs 28,000 staff, had initially warned over job losses and branch closures in October.
In its full-year report released today, Travis Perkins underlying earnings dropped.7 per cent to 36 million in its heating and plumbing division, but its Wickes and Toolstation division saw underlying operating profits go up.3 per cent to 101 million.
The parent company of DIY chain Wickes has posted a 67 per cent plunge in full-year profits due to the cost of branch closures and its struggling plumbing and heating business.
Adjusting items include an impairment of 246m against the goodwill in Wickes given the challenging DIY market, and reorganisation costs in the P H and Wickes businesses.
Chief executive John Carter blamed the sharp decline in the value of the sterling since the Brexit vote for his companys financial performance.Skip to main content, home Investor relations Results centre, financial Highlights.However, this fee was nothing compared to Travis Perkins heating, plumbing and tile businesses, which racked up a 235 million impairment charge.Adjusted operating profits decline.8 primarily reflects sales mix, with weaker Kitchen and Bathroom showroom sales in Wickes, and higher operating costs in General Merchanting.Cost reduction plans in progress across the Group with benefits weighted towards H2 2018.While Travis Perkins retail chains Wickes and Toolstation are not affected by the overhaul, the job losses will be felt at its trade brands Benchmarx, plumbing and heating businesses BSS and PTS and the eponymous Travis Perkins.Read more: 600 staff affected by plans to close 30 Travis Perkins branches.View the latest interim results for Travis Perkins plc here including financial highlights, operating highlights and a financial summary.2019 m All rights reserved.568,533 coupons for 14,000 bon de reduction williams stores.Updated on Jan 28, 2019.It is in point of fact a great and useful piece of information.I am glad that you simply shared this helpful information with.