Travis Perkins plc, the distributor of building materials, has seen revenue decline in its half year results for the 6 months to 30 June 2025.
The Group delivered revenue of £2.3bn, down 2.1% versus the same period of 2024. This was driven by the Merchanting segment, with activity across the majority of end markets remaining subdued. Toolstation, however, delivered a robust revenue performance with further market share gains.
Adjusted operating profit of £63m was £20m lower than the first half of 2024. This was impacted by factors including an £18m decline in gross profit – primarily driven by lower trading volumes, greater promotional activity and one less trading day in the Merchanting businesses – and property profits being £2m lower than the prior year.
Pre-tax profits, however, increased to £37.1m from £26.6m.
Chair Geoff Drabble said: “The first quarter was difficult with a continued trend of market share loss and revenue decline in Merchanting. However, I was encouraged by the response of the business to management actions to drive a more customer-focused approach. In the second quarter we delivered improved revenue performance and stabilised Merchanting market share and these trends have continued into July.
“We will build on this momentum in the second half as we deploy further system enhancements that put the difficult Oracle implementation behind us. The strong performance of Toolstation UK, which operates in similar markets to the Group’s other businesses, demonstrates our potential without internal distractions.
“Whilst the market outlook for the second half remains uncertain, the Board anticipates that the Group will deliver a full year result broadly in line with current market expectations.”
