NEWSROUND Travis Perkins CEO to step down
Travis Perkins chief executive Nick Roberts is stepping down after five years in the role. Roberts has said
he will remain in the role until a successor is found, the company has said in a statement. “Travis Perkins is a great company with a talented team and I have been privileged to
Haldane Fisher fined after staff member suffers brain injury
serve as CEO for the last five years,” said Roberts.
“I am proud of the progress we have made in modernising the company.
“While the Board identifies my successor, I will continue to rigorously execute on our plan and drive performance.” This comes weeks after Travis Perkins flagged another year of challenging demand following a
39% drop in its 2023 profit. Jasmine Whitbread, chair, commented: “On behalf of the Board, I would like to thank Nick for his dedication and contribution to the business over the last five years. While there has been good progress made in modernising the business, the Board fully recognises the under performance of the business over recent reporting periods,
Prime Minister and Chancellor visit Selco
Prime Minister Rishi Sunak and Chancellor of the Exchequer Jeremy Hunt visited Selco Builders Warehouse on Budget Day this year.
Haldane Fisher has been fined £380,000 after a staff member fell and suffered a brain injury while working at its Walsall site; The merchant pleaded guilty to breaching Sections 2 (1) and 3(1) of the Health and Safety at Work etc. Act 1974.
The incident occurred when Timothy Bates was delivering fuel for a temporary generator at the timber processing site when he fell from a trailer on July 28 2022. The Haldane Group commented: “We were very sorry to learn of the injuries Mr Timothy Bates incurred on our GE Robinson site in July 2022. We have liaised fully with the HSE on this matter, engaged with industry experts and have implemented all major recommendations, we strive for continual improvement in all areas of our business and we to take health and safety very seriously.” The company was fined £380,000 and ordered to pay £5,934.50 costs at Birmingham Magistrates’ Court on March 1.2024.
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Sunak and Hunt were welcomed into Selco’s Old Kent Road branch just hours after the Spring Budget were delivered to the House of Commons. Howard Luft, CEO of Selco, said it was an honour to be the focal point in the immediate aftermath of the Budget. “It was a privilege to show the Prime Minister and the Chancellor around one of our most centrally- located London branches and
in the context of continued economic challenges and end market weakness.
“We remain fully focused on improving profitability and enhancing cash generation, as well as accelerating changes to our operating model to create a simpler, more efficient business, well positioned to emerge stronger when markets recover and to grow shareholder value.”
IBMG gets more funding for expansion
to introduce them to some of our colleagues,” he said. “It created a real buzz of excitement amongst colleagues and customers and we were able to offer an insight into the builders’ merchant industry in general and Selco in particular.”
Construction growth returns
Following six months of contraction, the UK construction industry returned to growth in March, according to the latest purchasing managers survey from the Chartered Institute of Procurement and Supply and S&P Global.
The latest index for
construction rose to 50.2 in March from 49.7 in the previous month, above the 50-point threshold that indicates growth for the first time since August. Tim Moore, economics
director at S&P Global Market Intelligence, which compiles the survey said:“UK construction output returned to growth in March as a renewed expansion of civil engineering work was supported by more stable conditions in the housing and commercial building segments. The marginal overall rise in total construction activity ended a six-month period of contraction. The near-term outlook for construction workloads appears increasingly favourable as order
books improved again in March and to the greatest extent for just under one year. Construction companies generally commented on a broadbased rebound in tender opportunities, helped by easing borrowing costs and signs that UK economic conditions have started to recover in the first quarter of 2024.”
www.buildersmerchantsjournal.net April 2024
Independent Builders Merchant Group (IBMG), has, with support from its founding sponsor Cairngorm Capital, raised additional capital investment from funds managed or advised by leading investment firms Ares Management Corporation and Farallon Capital Europe LLP. Martin Stables, IBMG’s CEO, said: “The new funding partnership delivers additional capital for growth, providing IBMG with greater financial flexibility, allowing for continued investment. Looking to the second half of this year and beyond, medium-term macroeconomics look very favourable for our sector.”
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