Home Business News Travis Perkins revenue took a ‘significant impact’ due to lockdown

Travis Perkins revenue took a ‘significant impact’ due to lockdown

by LLB Finance Reporter
28th Jul 20 1:16 pm

Travis Perkins have taken a hit amid the pandemic as sales fell in the first half of 2020 by 20%, whilst revenue slumped to £2.78bn in the six months to June.

The building supplies group said they took a “significant impact” due to the lockdown, as like-for-like sales were lower by 34.8% in the second quarter.

In June like-for-like sales fell by 6.7% compared with a significant drop of 63.6% and 34.6% in April and May respectively.

Chief executive Nick Roberts said, “Since the trading update on June 15, the business has continued to recover well, with good demand from 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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