Trade demand helps Travis Perkins to reiterate earnings outlook

FILE PHOTO - A worker stacks bricks at the Vauxhall depot of building material supplier Travis Perkins in London, Britain, October 25, 2013. REUTERS/Neil Hall/File Photo - Copyright Neil Hall(Reuters)

By Reuters

Published on 23/10/2018 - 09:04•Updated 23/04/2024 - 17:17

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LONDON (Reuters) - Travis Perkins <TPK.L>, Britain's largest supplier of building materials, said it expected its full-year performance to be in line with expectations after solid demand from trade buyers offset the pressure in its UK DIY business Wickes.

Travis Perkins, which lowered its forecasts when it last updated the market in July, said underlying sales rose by 4.1 percent in the third quarter, helped by a slight easing of pricing pressure.

Combined with cost cuts, the group reiterated its full-year outlook, with a company compiled market consensus putting earnings before interest, tax and amortisation at around 363 million pounds.

(Reporting by Kate Holton; Editing by Alistair Smout)

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