Dec 4, 2018
Travis Perkins narrows focus to professional builders
Builders' merchant and DIY supplier Travis Perkins is to narrow its focus to its professional trade customers rather than its DIY ones amid uncertain trading conditions which have hit consumer confidence and the market for existing home sales. Shares fell 4.5 per cent in early London trading. In an update ahead of a meeting with analysts, the FTSE 250 company said that following an internal review of its business it would now focus on serving professional building trade customers, which represent the majority of its customer base. Travis Perkins will, for now, keep its flagship consumer-focused brand Wickes, and work on improving the division's performance. In Tuesday's update, Travis Perkins said "The fundamental long-term growth drivers of the business remain robust, with a continued shortage of housing in the UK and under-investment in the maintenance and improvement of the existing, ageing, housing stock", but it added that in the short term market conditions remain "Uncertain".
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