Travis Perkins plc - post-close trading update for the year to 31 December 2023
18 Enero 2024 - 1:00AM
EQS Regulatory News
Travis Perkins (TPK)
Travis Perkins plc - post-close trading update for the year to 31
December 2023
18-Jan-2024 / 07:00 GMT/BST
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 £180m
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 £180m, 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 £35m and result in a one-off restructuring charge of
around £15m 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
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FGS Global
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Matt Worster
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Faeth Birch / Jenny Davey / James Gray
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+44 (0) 7990 088548
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+44 (0) 207 251 3801
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matt.worster@travisperkins.co.uk
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TravisPerkins@fgsglobal.com
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Dissemination of a Regulatory Announcement, transmitted by EQS
Group.
The issuer is solely responsible for the content of this
announcement.
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ISIN: |
GB00BK9RKT01 |
Category Code: |
TST |
TIDM: |
TPK |
LEI Code: |
2138001I27OUBAF22K83 |
Sequence No.: |
298096 |
EQS News ID: |
1817317 |
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End of Announcement |
EQS News Service |
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