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Travis Perkins reports challenging first quarter
(Sharecast News) - Travis Perkins said in an update on Tuesday that trading conditions remained challenging in the first quarter as group revenue fell on a like-for-like basis amid subdued construction activity. The FTSE 250 building materials distributor said group like-for-like revenue declined 1.7% in the three months to 31 March, with like-for-like volume down 2.8% and price and mix contributing 1.1%.
Total group revenue fell 3.1%, including a 1.4% impact from network changes.
In the merchanting division, like-for-like revenue fell 2.3%, as a 1.0% benefit from price and mix was offset by a 3.3% decline in volume.
Total revenue in the segment dropped 4.2%, including a 1.9% impact from network changes, which reflected the disposal of Staircraft in 2025.
The company said construction activity levels remained subdued, but added that its merchanting businesses were making progress in passing through manufacturer price increases and delivering further procurement benefits while continuing to maintain market share in the general merchant business.
Toolstation UK recorded a stronger performance, with like-for-like revenue rising 2.6%.
The division benefited from 1.5% like-for-like volume growth and a 1.1% contribution from price and mix, while total revenue increased 3.2%.
Travis Perkins said the business continued to see maturity benefits from its estate and was delivering further margin growth through the evolution of its range and offer.
Toolstation Benelux had a weaker quarter, with like-for-like revenue down 7.1% and total revenue falling 7.0%.
Volumes declined 8.8%, partly offset by a 1.7% benefit from price and mix.
Looking ahead, Travis Perkins said it remained focused on managing overheads and identifying further operational efficiencies.
The group said ongoing capital discipline and incremental cash generation opportunities were continuing to strengthen its financial position.
At 1037 BST, shares in Travis Perkins were down 5.04% at 518.5p.
Reporting by Josh White for Sharecast.com.
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