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Travis Perkins profit falls 1 pct on weak plumbing and heating
March 2, 2017 / 7:17 AM / 9 months ago

Travis Perkins profit falls 1 pct on weak plumbing and heating

LONDON, March 2 (Reuters) - Travis Perkins, Britain’s biggest supplier of building materials, reported a 1 percent fall in full-year core earnings, hurt by a weak performance in its plumbing and heating business, a division which is being reviewed.

The group, which trades from over 20 businesses including Travis Perkins, Wickes, BSS, Toolstation and Tile Giant, said on Thursday adjusted operating profit was 409 million pounds ($502 million) in the year to Dec. 31.

That compared with analysts’ consensus forecast of 410 million pounds, according to Reuters’ data, and 413 million pounds made in 2015.

Travis Perkins had warned on profit in October.

The firm cautioned that the macro-economic outlook of the UK is mixed.

“The sharp decline in the value of sterling since June 2016 has created cost pressures on imported goods and materials, and the expectations for secondary housing market transactions and growth in the repair, maintenance and improvement market have weakened,” it said. ($1 = 0.8150 pounds) (Reporting by James Davey, Editing by Paul Sandle)

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