Travis Perkins H1 Group Revenue Declines 20% - Quick Facts
(RTTNews) - Travis Perkins plc (TPK.L) reported a 20% decline in first-half group revenue, reflecting the significant impact of the COVID-19 pandemic and resulting lockdown.
Group revenue for the first six months of 2020 was £2,780 million, down 20% from the previous year's £3,484 million. Like-for-like sales for the period declined 19.3%.
Nick Roberts, CEO, said, "We remain cautious as to the near-term headwinds facing our business and the wider economy, nevertheless the decisive actions we have taken to manage our cost base mean that we are well placed to continue to service our customers, support our colleagues and generate value for our shareholders."
The company further noted that despite the closure of 165 branches in June, representing around 8% of the Group's overall estate, the Group has continued to experience an improving trend on total sales volumes so far in July, with the Group's total sales run rate now close to prior year.
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