{"id":88739,"date":"2025-04-03T06:00:59","date_gmt":"2025-04-03T06:00:59","guid":{"rendered":"https:\/\/tin.happy-projects.ro\/price-deflation-and-low-demand-hit-uks-travis-perkins-2024-financial-results\/"},"modified":"2025-09-18T17:30:14","modified_gmt":"2025-09-18T17:30:14","slug":"price-deflation-and-low-demand-hit-uks-travis-perkins-2024-financial-results","status":"publish","type":"post","link":"https:\/\/www.timberindustrynews.com\/ro\/price-deflation-and-low-demand-hit-uks-travis-perkins-2024-financial-results\/","title":{"rendered":"Price deflation and low demand hit UK\u2019s Travis Perkins\u2019 2024 financial results"},"content":{"rendered":"<p class=\"\" data-start=\"52\" data-end=\"216\">Reduced demand and price deflation has led to national builders merchanting chain Travis Perkins recording one of its poorest set of annual results in many years.<span id=\"more-37874\"><\/span><\/p>\n<p class=\"\" data-start=\"218\" data-end=\"441\">Travis Perkins plc reported that 2024 was a \u201cchallenging year,\u201d with revenue of \u00a34.607bn (\u20ac5.38bn) \u2013 down 4.7% year-on-year, due to price deflation, reduced construction sector demand, and increased competitive intensity.<\/p>\n<p class=\"\" data-start=\"443\" data-end=\"777\">The challenging trading conditions were reflected in profitability levels, with Travis Perkins recording a loss after tax of \u00a377m (\u20ac90m), a 300% dip from the \u00a338m (\u20ac44m) after-tax profit posted a year ago. Operating profit was \u00a32m (\u20ac2.3m) (2023: \u00a3161m (\u20ac188m), and adjusted operating profit was \u00a3152m (\u20ac177m) (2023: \u00a3198m (\u20ac231m).<\/p>\n<p class=\"\" data-start=\"779\" data-end=\"971\">The Group has experienced a mixed start to 2025. Trading conditions have continued to be challenging in its merchanting businesses, with pricing now stabilised but volumes in modest decline.<\/p>\n<p class=\"\" data-start=\"973\" data-end=\"1243\">Geoff Drabble, Travis Perkins Chair, said it was clear the business needed to refocus in a number of areas and change the way it operates to better serve customers and support suppliers. Work has already been taking place to address this but will now continue at pace.<\/p>\n<p class=\"\" data-start=\"1245\" data-end=\"1347\">Company CEO Pete Redfern has resigned due to ill health, and a search for his successor has started.<\/p>\n<p class=\"\" data-start=\"1349\" data-end=\"1598\">\u201cWhilst uncertainty remains regarding the strength and timing of a recovery in UK construction activity, with more resources re-deployed into customer-facing roles, the Group is now better placed to benefit from returning demand,\u201d said Mr Drabble.<\/p>\n<p class=\"\" data-start=\"1600\" data-end=\"1806\">\u201cThis will be supported by disciplined capital allocation, focused on upgrading and protecting our core competitive advantages, and a clear customer-focused strategy owned by the leaders of the business.\u201d<\/p>\n<p class=\"\" data-start=\"1808\" data-end=\"1933\">Against this backdrop, management took actions in 2024 to reduce total overheads by \u00a353m (\u20ac62m) compared to the prior year.<\/p>\n<p class=\"\" data-start=\"1935\" data-end=\"2259\">The Group\u2019s Merchanting businesses saw revenue fall by 6.2% in the year to \u00a33.786bn (\u20ac4.42bn), with adjusted operating profit down 29.7% to \u00a3149m (\u20ac174m) (2023: \u00a3212m (\u20ac247m)). Adjusting items of \u00a3133m (\u20ac155m) were recorded, relating to impairments in Staircraft and certain merchanting branches and restructuring actions.<\/p>\n<p class=\"\" data-start=\"2261\" data-end=\"2556\">Price deflation, a significant factor in H1 due to the rollover of prior-year timber price reductions in particular, eased in H2. However, volumes worsened as the year progressed, in part driven by project postponements caused by general election uncertainty and the delayed government budget.<\/p>\n<p class=\"\" data-start=\"2558\" data-end=\"2918\">The private domestic RMI market, the Merchanting segment\u2019s largest end market, which is primarily serviced by the Group\u2019s General Merchant business, remained depressed throughout the year. The private domestic new-build market, primarily serviced by Keyline and CCF working with national and regional housebuilders, also saw another notable drop in activity.<\/p>\n<p class=\"\" data-start=\"2920\" data-end=\"3091\">Toolstation performed better, continuing to deliver good growth. Its revenues rose 2.5% in 2024 to \u00a3812m (\u20ac947m), with adjusted UK operating profit up 4% to \u00a334m (\u20ac40m).<\/p>\n<p class=\"\" data-start=\"3093\" data-end=\"3215\">\u201cIt is encouraging to see a more robust demand backdrop for some elements of the construction market,\u201d the company said.<\/p>\n<p class=\"\" data-start=\"3217\" data-end=\"3462\">\u201cHowever, the pace and rate of an overall recovery in construction activity levels remains uncertain and will likely need further cuts to interest rates and an uplift to consumer confidence levels to stimulate a meaningful increase in demand.\u201d<\/p>","protected":false},"excerpt":{"rendered":"<p>Reduced demand and price deflation has led to national builders merchanting chain Travis Perkins recording one of its poorest set of annual results in many years. Travis Perkins plc reported that 2024 was a \u201cchallenging year,\u201d with revenue of \u00a34.607bn &hellip; <a href=\"https:\/\/www.timberindustrynews.com\/ro\/price-deflation-and-low-demand-hit-uks-travis-perkins-2024-financial-results\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>","protected":false},"author":1,"featured_media":49943,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[4716],"tags":[],"class_list":["post-88739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-trends"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Price deflation and low demand hit UK\u2019s Travis Perkins\u2019 2024 financial results - Timber Industry News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timberindustrynews.com\/ro\/price-deflation-and-low-demand-hit-uks-travis-perkins-2024-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Price deflation and low demand hit UK\u2019s Travis Perkins\u2019 2024 financial results - Timber Industry News\" \/>\n<meta property=\"og:description\" content=\"Reduced demand and price deflation has led to national builders merchanting chain Travis Perkins recording one of its poorest set of annual results in many years. 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