UK's Travis Perkins quarterly like-for-like sales dip on weak building demand
Travis Perkins Reports Decline in First-Quarter Sales
Impact of Weak Construction Market
April 28 (Reuters) - UK's Travis Perkins reported a 1.7% fall in first-quarter like-for-like sales on Tuesday, as a weak construction market weighed on demand for building materials, sending shares to a one-year low.
Performance of Merchanting Business
Passing on Price Increases
The company said its 'merchanting' business, which supplies cement and timber to homebuilders and infrastructure contractors, was making progress in passing on price increases.
Marketing Initiatives and Cost Pressures
Appealing to Customer Base
Travis Perkins has been focusing on marketing initiatives to better appeal to its customer base while reining in discounting amid cost pressures that weighed on margins.
Share Price Impact
Shares in the company fell as much as 5.5% to their lowest level since April last year.
Broader Industry Context
Homebuilder Cost Inflation
Homebuilder Taylor Wimpey on Tuesday raised its build cost inflation expectations for 2026 due to rising energy costs stemming from the Iran war.
Reporting Credits
(Reporting by Simone Lobo in Bengaluru; Editing by Mrigank Dhaniwala and Rashmi Aich)
