LONDON (dpa-AFX) - Travis Perkins plc (TPK.L), on Thursday, reported that Q1 total revenue declined 4.9% and like-for-like revenue decreased 3.7%, as trading remained challenging due to continued macroeconomic uncertainty that impacted demand across the construction sector.
The company stated that the General Merchant business continues to gain market share but, with trading volumes remaining subdued, sales across the Merchanting segment were down by 4.4% in the quarter.
Pricing has largely stabilized but remains lower than the prior year, primarily due to the rollover impact of timber deflation, with this trend expected to continue through the first half of the year.
Toolstation UK, facing weak RMI demand, saw revenues decline by 0.9%. The business remains focused on delivering long-term loyalty and sustainable value leadership whilst driving benefits from recent infrastructure investment.
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