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BUILDERS MERCHANTS: A-Z T Turnover £m Gross profit £m


Operating profit £k Net profit £k Staff


THE RATIOS Stockturn Gross margin %


Operating margin % Net margin % Sales/head £k Profit/head £


Return on capital % BMJ INDEX


2018 5.6


28.6 nil nil


227


(729) nil


TRAVIS PERKINS operates from around 1,685 branches, plus 235 Wickes branches, in the United Kingdom as at 30 June 2020. There are 20 brands, including Travis Perkins, Benchmarx Kitchens and Joinery, Keyline, CCF, BSS, Wickes, Toolstation, City Plumbing Supplies, Plumbing Trade Supplies (PTS), Direct Heating Spares, PlumbNation and the Underfloor Heating Store. It also has a tool hire business which operates across the merchant brands.


Supporting these branches are over 2.5 million square feet of centralised distribution warehouse space and over 3,000 commercial delivery vehicles, a lightside primary distribution centre, various specialist distribution hubs and dedicated retail supply chains.


After a solid start to the financial year 2020, trade merchanting sales were hit when the UK went into its first lockdown period and the majority of branches closed, The focus switched to support only for essential projects, including the building of the Nightingale hospitals.


In March, as a result of the Covid-19 pandemic, the Group announced the postponement of the planned demerger of the Wickes DIY chain, though this is now planned to complete this year. Wickes and Toolstation, due to their advanced digital capabilities, were able to repurpose their branches as fulfilment centres to support the local trade either via click and collect or home delivery, although the Wickes bathroom


42


and kitchen showrooms business remained closed.


Through May and June, with workers returning to building sites, the Group’s businesses began to cautiously reopen, adapting Covid- 19 safety operating models. Revenues over the first half of the year were thus down by 19%. The high growth in the DIY market, which started during the first lockdown, has been sustained, benefiting Wickes and, to a slightly lesser extent, Toolstation. The broader domestic RMI market also recovered strongly, driven by the high number of housing transactions and homeowners having both the resources, the need and the inclination to invest in their properties as working from home becomes more prevalent. New housebuilding and major commercial projects were far slower to restart, however. In June 2020, reflecting the challenging outlook, Travis


Perkins announced a significant restructuring programme to close around 190 branches across the Merchanting and Plumbing & Heating segments, as well as some support function roles across the businesses and head office. Approximately 2,500, roles, equivalent to 9% of the workforce were affected..


In the Travis Perkins General Merchant, branch closures targeted smaller, subscale branches where either there were difficulties in operating safe social distancing practices, or where the scale of the branch meant that profitability would be difficult in a lower volume environment. In the specialist merchants, where the majority of sales are delivered to customer sites, the branch closures were also focused on branches limited by size, geography or operational layout.


The Group still plans to sell the core P&H segment as soon as the


2019 5.2


29.3 3.3 2.6


231


7,721 2.8 56


2020 5.1


30.2 1.2 nil


212


2,632 nil


(70)


• TRAVIS PERKINS


TRAILBLAZERS TRAVIS PERKINS


TRAVIS PERKINS THE NUMBERS


2018


6,740.5 1,927.8 (21,700) (49,400) 29,748


2019


6,955.7 2,034.6 232,100 180,800 30,059


2020


6,195.0 1,869.0 77,100 (7,700) 29,288


% CHANGE


2019 3 6


n/a n/a 1


2019 (7) 2


n/a n/a 2


n/a n/a


2020 (11) (8)


n/a n/a (3)


% change


2020 (2) 3


n/a n/a (9)


n/a n/a


TRAVIS PERKINS


Lodge Way House, Lodge Way, Harlestone Road, Northampton NN5 7UG Tel: 01604 752424 www.travisperkinsplc.co.uk


Subsidiaries: Travis Perkins General Merchant, BSS, CCF, City PLumbing Supplies, Keyline Civils Specialist, Plumbing Trade Supplies, TF Solutions, Toolstation (UK & Europe), Wickes, Plumbnation, Underfloor Heating Store, National Shower Spares


Branches: 1,976 Employees: 29,000


Chairman: Jasmine Whitbread CEO: Nick Roberts CFO Alan Williams


Chief Operating Officer Frank Elkins CITO, Travis Perkins plc Phil Tenney Managing Director, Travis Perkins Kieran Griffin Toolstation Managing Director James Mackenzie Managing Director, BSS Angela Rushforth Managing Director, Keyline Dean Pinner Managing Director, Plumbing & Heating Dave Evans Chief Executive Wickes David Wood Managing Director, CCF Catherine Gibson


Members of: BMF, CPA


time is right, however, in January 2020 it disposed of the Primaflow F&P wholesale business. The second half recovery was very encouraging though, particularly in the Travis Perkins General Merchant, led by domestic RMI demand where volumes were approaching 2019 levels by the end of the year. Housebuilding and commercial construction, to which the specialist merchants are primarily exposed, were slower to recover with volumes still down by between 10% and 15% during the fourth quarter.


During the crisis, in order to continue to support customers safely, all of the Merchant businesses moved to pre arranged collection models, organised either by phone or online. This has proven successful across the full range of customers and work continues to develop this offer as a permanent part of the customer proposition.


A supplement to Builders Merchants Journal April 2021


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