Travis Perkins plc Reports 2024 Financial Results

Travis Perkins, the UK's largest distributor of building materials, has announced its financial results for the year ending 31 December 2024. Despite facing a challenging trading environment, group revenue decreased by 4.7% due to price deflation and reduced market volumes. Adjusted operating profit stood at £152 million, down from £198 million in 2023.

Notably, the Merchanting segment underperformed, whereas Toolstation UK showed a 48% increase in adjusted operating profit, driven by solid sales and improved margins. The company's balance sheet saw improvements, with net debt before leases reduced by £123 million thanks to stringent cash management.

Meanwhile, the resignation of CEO Pete Redfern has prompted the Nominations Committee to search for his successor. Despite an uncertain recovery in UK construction, the board remains cautiously optimistic, focusing on customer-centric strategies and leveraging core strengths to deliver shareholder value over the medium term.