Travis Perkins had been expected to make a full-year adjusted operating profit of around £270m in 2023 but it has today alerted shareholders that £240m is a more likely figure
“The group delivered a resilient performance in the first quarter but has not seen the anticipated easing of market conditions in the second quarter to date,” the company said. “Volumes in both the new build housing and private domestic RMI markets continue to be impacted by higher interest rates and weaker consumer confidence driven by persistent, higher than anticipated consumer price inflation.”
Travis Perkins is scheduled to report its half-year results for the six months to 30th June on 1 August 2023.
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