TPK Travis Perkins Plc

Travis Perkins (TPK) 
Travis Perkins plc - post-close trading update for the year to 31 December 2023 
18-Jan-2024 / 07:00 GMT/BST 
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18 January 2024 
 
Travis Perkins plc post-close trading update for the year to 31 December 2023 
 
FY23 adjusted operating profit expected to be around GBP180m 
 
Trading in Q4 was delivered in line with management expectations with pricing stabilised versus Q3 but volume 
performance remaining challenging. Accordingly, the Group expects to deliver an FY23 adjusted operating profit of 
around GBP180m, in line with its previous guidance. 
 
Over recent years the Group's strategy has focused on streamlining operations, modernising technology and 
infrastructure and establishing the drivers of future growth. Given that market conditions are anticipated to remain 
subdued into FY24, management has accelerated plans to continue the transformation of the business. This work commenced 
in Q4 with a reduction in central and regional headcount alongside efficiencies realised within the Group's supply 
chain. These actions will deliver annualised savings of around GBP35m and result in a one-off restructuring charge of 
around GBP15m in FY23. 
 
These initiatives represent the first steps in a programme of planned changes to the Group's operating model, which 
will focus on simplifying how its businesses interact with each other, reviewing the impact of loss-making activities 
and maximising the benefit of the Group's collective scale. 
 
Together these changes will deliver further operational efficiencies, enhance cash generation and strengthen financial 
resilience over the medium term. Management looks forward to updating on these initiatives at the Group's full year 
results on 5 March 2024. 
 
Enquiries: 
Travis Perkins                     FGS Global 
Matt Worster                       Faeth Birch / Jenny Davey / James Gray 
+44 (0) 7990 088548                +44 (0) 207 251 3801 
matt.worster@travisperkins.co.uk   TravisPerkins@fgsglobal.com 

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ISIN:          GB00BK9RKT01 
Category Code: TST 
TIDM:          TPK 
LEI Code:      2138001I27OUBAF22K83 
Sequence No.:  298096 
EQS News ID:   1817317 
 
End of Announcement  EQS News Service 
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January 18, 2024 02:00 ET (07:00 GMT)

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