Travis Perkins: Trading update for six months to 30 June 2020 (1103187)
28 Julio 2020 - 01:00AM
UK Regulatory
Travis Perkins (TPK)
Travis Perkins: Trading update for six months to 30 June 2020
28-Jul-2020 / 07:00 GMT/BST
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The issuer is solely responsible for the content of this announcement.
28 July 2020
Travis Perkins plc - H1 2020 Trading update
In advance of the announcement of interim results on 08 September, today
Travis Perkins sets out a trading update covering sales figures by quarter
for the first half of 2020.
Nick Roberts, CEO, commented:
"Since the trading update on 15 June, the business has continued to recover
well with good demand from RMI and infrastructure markets offsetting ongoing
challenges in the new build and commercial construction sectors.
We remain cautious as to the near-term headwinds facing our business and the
wider economy, nevertheless the decisive actions we have taken to manage our
cost base mean that we are well placed to continue to service our customers,
support our colleagues and generate value for our shareholders."
Trading performance
Overall, Group revenue for the first six months of 2020 was GBP2,780m, down
20% on the same period in 2019 (GBP3,484m) due to the significant impact of
the COVID-19 pandemic and resulting lockdown.
Quarterly sales by segment
H1 2020 Merchanting Toolstation Retail P&H Group
Like-for-like (25.8)% 12.9% (8.2)% (22.8)% (19.3)%
sales
Net new space and (0.7)% 23.6% (0.8)% (11.1)% (1.5)%
acquisitions
Trading days 0.6% 0.6% 0.5% 0.6% 0.6%
Total sales (25.9)% 37.1% (8.5)% (33.3)% (20.2)%
growth
Q2 2020 Merchanting Toolstation Retail P&H Group
Like-for-like (42.8)% 16.5% (19.8)% (48.4)% (34.8)%
sales
Net new space (0.5)% 26.0% (0.5)% (8.4)% (0.9)%
and acquisitions
Trading days - - - - -
Total sales (43.3)% 42.5% (20.3)% (56.8)% (35.7)%
growth
Merchanting Toolstation Retail P&H Group
Q1 LFL Sales (8.7)% 9.1% 4.5% (1.9)% (3.8)%
Growth
Q2 LFL Sales (42.8)% 16.5% (19.8)% (48.4)% (34.8)%
Growth
Q2 like-for-like sales progression by month
Merchanting Toolstation Retail P&H Group
April (73.1%) (1.9%) (53.1%) (69.1%) (63.6%)
May (37.4%) 23.8% (32.1%) (53.0%) (34.6%)
June (17.6%) 27.6% 21.7% (23.4%) (6.7%)
Q2 (42.8%) 16.5% (19.8%) (48.4%) (34.8%)
Since the most recent update in mid-June, the Merchanting businesses have
continued to recover well with the improvement in RMI markets and
infrastructure spending proving to be more robust than the new housebuilding
and commercial construction markets. Plumbing & Heating markets are also
recovering more gradually as projects are predominantly carried out indoors.
Toolstation and Wickes continue to benefit from strong DIY sales delivered
through market-leading multi channel capability. Overall, Wickes achieved
strong sales growth in June following the re-opening of its stores to
customers in late May, with significant growth in core DIY categories more
than offsetting the slower recovery in Kitchen & Bathroom installations.
Despite the closure of 165 branches in June, representing around 8% of the
Group's overall estate, the Group has continued to experience an improving
trend on total sales volumes so far in July, with the Group's total sales
run rate now close to prior year.
At 30 June 2020, the Group had GBP455m of cash on deposit giving a strong
overall liquidity headroom position of GBP855m.
Enquiries:
Travis Perkins Powerscourt
Graeme Barnes Justin Griffiths / James White
+44 (0) 7469 401819 +44 (0) 207 2501446
graeme.barnes@travisperkins.co.uk travisperkins@powerscourt-group.com
ISIN: GB0007739609
Category Code: TST
TIDM: TPK
LEI Code: 2138001I27OUBAF22K83
Sequence No.: 78263
EQS News ID: 1103187
End of Announcement EQS News Service
(END) Dow Jones Newswires
July 28, 2020 02:00 ET (06:00 GMT)
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