Travis Perkins raises full year profit forecast
Travis Perkins has said its full year adjusted operating profit will be materially ahead of market expectations and is expected to reach at least £300 million.
In a trading update, the company said the high levels of growth it saw in March have continued throughout its second quarter, driven by the strength of both the domestic and commercial repairs, maintenance and improvement markets.
Nick Roberts, Travis Perkins chief executive, said: “Our Merchanting businesses have recovered strongly while Toolstation’s performance continues to be ahead of expectations. Whilst we are experiencing inflationary pressures across a number of product ranges, due to high demand and supply constraints, we are focused on working with both our suppliers and customers to ensure consistency of supply and fair outcomes for all.”
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