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Fri June 18 2021

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Travis Perkins trading rebounds to 2019 levels

28 Jul 20 After seeing its sales plummet by 64% in April, builders’ merchant group Travis Perkins is nearly back to 2019 levels of trading.

Travis Perkins’s sales in June 2020 were just 6.7% down on June 2019 to provide a slight lift to a quarter dominates by Covid-19 and store closures.

For the second quarter of 2020 – April to June – group sales were down 35%. Different parts of the business fared differently: plumbing & heating was down 48%, merchanting was down 43% but the Toolstation equipment hire division was up 16%. Toolstation proved resilient to the virus and the national lockdown, with sales falling just 1.9% in April 2020, compared to April 2019, before rebounding 24% and 28% up in May and June, well ahead of 2019 numbers.

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 impact of Covid-19 and resulting lockdown.

Despite 165 branches remaining closed in June, representing around 8% of the overall

estate, Travis Perkins sales volumes so far in July are close to 2019 levels.

Chief executive Nick Roberts said: “Since the trading update on 15th 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.”

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