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TRAVIS PERKINS Travis Perkins: Trading update for six months to 30 June 2020

Directive transparence : information réglementée

28/07/2020 08:00

Travis Perkins (TPK)
Travis Perkins: Trading update for six months to 30 June 2020

28-Jul-2020 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
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 £2,780m, down 20% on the same period in 2019 (£3,484m) 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 sales

(25.8)%

12.9%

(8.2)%

(22.8)%

(19.3)%

Net new space and acquisitions

(0.7)%

23.6%

(0.8)%

(11.1)%

(1.5)%

Trading days

0.6%

0.6%

0.5%

0.6%

0.6%

Total sales growth

(25.9)%

37.1%

(8.5)%

(33.3)%

(20.2)%

 

Q2 2020

Merchanting

Toolstation

Retail

P&H

Group

Like-for-like sales

(42.8)%

16.5%

(19.8)%

(48.4)%

(34.8)%

Net new space and acquisitions

(0.5)%

26.0%

(0.5)%

(8.4)%

(0.9)%

Trading days

-

-

-

-

-

Total sales growth

(43.3)%

42.5%

(20.3)%

(56.8)%

(35.7)%

 

 

Merchanting

Toolstation

Retail

P&H

Group

Q1 LFL Sales Growth

(8.7)%

9.1%

4.5%

(1.9)%

(3.8)%

Q2 LFL Sales Growth

(42.8)%

16.5%

(19.8)%

(48.4)%

(34.8)%

  

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 £455m of cash on deposit giving a strong overall liquidity headroom position of £855m.

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

 
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