Like-For-Like Revenue Up 25.4% At Travis Perkins PLC

Travis Perkins PLC has reported on trading for the 2021/2022 financial year, advising of a year of significant strategic and operational progress building a strong platform for future growth.

Highlights

• Successfully refocused the organisation around the Group’s ambition to become the leading partner to the construction industry
  
  
• Completed portfolio actions with Wickes demerged and Plumbing & Heating (P&H) business sold
  
  
• Strong revenue performance driven by enhanced customer proposition and robust recovery in key market segments. Like-for-like revenue grew by 25.4% and was 14.4% ahead of 2019*
  
  
• Adjusted operating profit of £353m (inclusive of £49m of property profits) (2020: £128m inclusive of property profits of £9m), 19% ahead of 2019*
  
  
• Excellent performance in Merchanting resulting from volume growth, improved operational focus and a streamlined cost base
  
  
• Another strong year for Toolstation with the UK rollout accelerated and scale building in Europe
  
  
• Total ordinary dividend of 38.0 pence per share. P&H net sale proceeds returned to shareholders in full via a 35.0 pence per share special dividend and ongoing buyback programme which has today been extended to £240m
  
  
• Continued progress towards sustainability goals with Scope 1 & 2 and new Scope 3 carbon targets approved by the Science-Based Target initiative (“SBTi”) as being in line with a 1.5˚ pathway and over 1,300 colleagues enrolled onto apprenticeships or Kickstart programmes

(1) Alternative performance measures are used to describe the Group’s performance. Details of calculations can be found in the notes listed.

* For continuing businesses only. The Retail and Plumbing & Heating segments are treated as discontinued operations. 

Learn more about Toolstation's results here. 

Nick Roberts, Chief Executive Officer, commented:

“2021 has been a year of significant operational and strategic progress for the Group, completing our portfolio actions and subsequently setting out our ambition to be the leading partner to the construction industry. Whilst the rapidly recovering market created challenges around inflation and product availability, we have navigated them well to deliver an outstanding financial performance, enabled once again by the hard work of our fantastic colleagues.

The Group has built a strong platform for growth and, given robust end market demand and a positive start to the new year, we remain confident of making further progress in 2022. We continue to develop new capabilities to complement our market leading positions and we see exciting opportunities in both new and adjacent markets, driven by our desire to be at the forefront of delivering change and decarbonisation within our industry. The long-term fundamentals of our end markets continue to be robust and the Group is well placed to invest in growth opportunities to create value for all of our stakeholders.”

Learn more about the Group's performance in this results presentation: https://www.insightdiy.co.uk/articles/travis-perkins-plc--full-year-results/1323.htm

Analyst Presentation

Management are hosting a results presentation at 8.30am - register at the following link: https://webcasting.brrmedia.co.uk/broadcast/61f91137d0a01d0d75c3c623

Source : Travis Perkins PLC

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