TRAILBLAZERS Travis Perkins
TRAVIS PERKINS THE NUMBERS
2021 Turnover £m Gross profit £m
Operating profit £k Net profit £k Staff
THE RATIOS 2021 Stockturn Gross margin %
Operating margin % Net margin % Sales/head £k Profit/head £
Return on capital % BMJ INDEX
4.5
28.5 7.6 6.7
244
18,505 6.9
2022 5.0
27.7 5.7 4.9
250
14,271 5.9
2023 4.9
26.8 2.3 1.4
254
5,732 1.7
(29)
Travis Perkins, the UK’s largest builders merchant, released its 2024 full year results just as Trailblazers went to press, and therefore too late for inclusion in the tables.
On March 10th, CEO Pete Redfern resigned due to ill-health, with his place being taken in the interim by Chairman Geoff Drabble. Both had joined Travis Perkins during 2024, following the departure of former CEO Nick Roberts and chair Jasmine Whitbread.
2024 saw Group revenue fall 4.7% to £4,607m, year-on-year, although Toolstation made good progress with robust revenue growth in both the UK and Benelux.
The group reported that price deflation, a significant factor in the first half, eased in the second, although volumes worsened as the year went on, in part driven by general election uncertainty and the delayed government budget. The private domestic RMI market, the merchanting segment’s largest end market, remained depressed throughout the year. The private domestic new-build market, primarily serviced by Keyline and CCF working with national and regional housebuilders, also saw another notable drop in activity. The Merchanting segment’s other end markets – commercial, industrial and public sector – saw mixed levels of demand with uncertainty surrounding government departmental budgets persisting until after
the late October budget announcement.
Six new merchant branches were opened during the year, five of them general merchant branches, one was a new CCF branch. On the other hand, 51 merchant branches closed, most of them Benchmarx standalone branches, and this offer is now an integrated proposition within destination general merchant branches. The remaining nine branches closed comprised eight general merchant branches and Keyline Kirby.
Announcing the year-end results, Drabble said: “Since joining the Board of Travis Perkins, I have been encouraged by the breadth and depth of our market footprint, the quality and commitment of our people and the strength of our relationships within the construction industry. “However, it is clear to the management team that there are a number of areas where the business needs to refocus and change the way it operates in order to better serve our customers and effectively support our suppliers. Several initial steps have been taken under Pete Redfern’s leadership to begin rebuilding trust and confidence, both internally and externally, with focused leadership roles restored in all our businesses and actions taken to re-engage and motivate our teams. These changes will make our businesses more responsive and bring them closer to our customers. Following Pete’s resignation, the priority
April 2025 A supplement to builders merchants journal
4,586.7 1,308.8 348,500 305,600 18,833
2022
4,994.8 1,384.7 284,800 245,000 19,956
2023
4,861.9 1,305.1 109,900 70,000 19,172
% CHANGE
21/22 9 6
(18) (20) 6
% CHANGE
21/22 10 (3)
(25) (26) 3
(23) (15)
22/23 (1) (3)
(60) (71) 1
(60) (71)
22/23 (3) (6)
(61) (71) (4)
is to ensure this work continues at pace, whilst the Nominations Committee of the Board identifies the right long-term successor. “Whilst uncertainty remains regarding the strength and timing of a recovery in UK construction activity, with more resources re- deployed into customer-facing roles, the Group is now better placed to benefit from returning demand. This will be supported by disciplined capital allocation, focused on upgrading and protecting our core competitive advantages, and a clear customer- focused strategy owned by the leaders of the business.”
TRAVIS PERKINS BUILDERS MERCHANTS: A-Z
TRAVIS PERKINS
Ryehill House, Rye Hill Close, Lodge Farm Industrial Estate, Northampton NN5 7UA Tel:01604 752424
www.travisperkins.co.uk
Brands: Travis Perkins, Benchmarx Toolstation CCF Keyline BSS Staircraft
Branches: Travis Perkins 589 BSS: 55 CCF: 36 Keyline: 42 Toolstation 110
Employees: 20,000 (group)
Chair: Geoff Drabble CEO: Geoff Drabble (interim, during Pete Redfern’s leave of absence) CFO: Duncan Cooper Chief Information and Technology Officer: Phil Tenney Chief HR Officer: Tony Murphy (interim) Chief Commercial Officer, Managing Director BSS, TF Solutions: Dave Castle Managing Director Toolstation Angela Rushforth Managing Director CCF and Keyline: Catherine Gibson Managing Director at Travis Perkins Managed Services Ben Todd
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