NEWSROUND Travis Perkins sees first half sales and profits fall
Builders merchant group Travis Perkins has posted a fall of 2.5% in revenue and 31% in adjusted operating profts for the six months to June 30 2023.
The announcement today (July 31) showed sales were £2,472m and operating profit £112m reflecting weak market volumes in private domestic RMI and new build housing.
The merchanting division saw resilient demand across commercial, industrial, infrastructure and public sector markets, although significant weakness in new build housing
Scott Parnell restructures into Employee Ownership Trust
and private domestic RMI markets meant revenue was down 4.5% overall and operating profit is 23.5% lower.
Toolstation saw revenue up 9.0%, and its new 500,000 sq ft distribution centre in Pineham, Northamptonshire.
Nick Roberts, Chief Executive Officer, said: “The Group remains focused on striking the appropriate balance between seeking to protect shorter term profitability, delivering our strategic objectives and being well placed to benefit when market conditions improve. “Given the market backdrop, we are relentlessly focused on meeting our customers’ needs in core categories and supporting our local branch managers to grow share of wallet, particularly with general builder and professional trade customers, by making it simpler and easier to transact with
MKM opens new branch in Eastleigh
Builders merchant MKM has more than 115 branches across the country, now that it has opened a new branch in Eastleigh, Hampshire.
The branch was officially opened on Monday, 10th July, by darts legend Bob Anderson, and branch directors Paul Andrews and Mike Creagh.
Scott Parnell Limited has transitioned control of the company to an Employee Ownership Trust. Management of the company will be uninterrupted with founders Dave Scott and Steve Parnell retaining shareholding positions, and will continue to be involved in the business as directors of the EOT board of trustees.
Scott and Parnell started the company in 2012 in Witham, 11 years later the company is turning over £130m and employing 170 staff across 10 locations. Focus on employees, customer service, supply chain relationships, innovation and sustainability remain a priority for the company.
Scott Parnell Limited said they would like to thank their employees and customers.
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Building products manufacturer Marshalls saw group revenue fall by 13% for the first half of 2023,
The company’s coverage now stretches from the South Coast to the Scottish Highlands.
MKM Eastleigh, on the town’s Woodside Road, combines a trade counter with kitchen, bathroom and landscaping displays, and
an extensive range of building materials, plumbing and heating, timber, landscaping and joinery. Creagh says: “At MKM Eastleigh our aim is to build long-term relationships with our customers, provide best-in-class
customer service, and create a great working environment for our brilliant branch team. We’re looking forward to working closely with our customer base of tradespeople and homeowners across Eastleigh, offering them the wealth of experience and superb skills our team can provide.”
Slowdown costs Marshalls jobs and Scottish factory
a trading update today (July 31) revealed. As a result, the company is cutting 250 jobs and closing its factory in Carluke, Lanarkshire. The job losses are in addition to the 150 redundancies announced at the end of last year. Adjusted pre-tax profit is expected to be around £33m, down from £45m. The group is blaming
“persistent weakness” in its key sectors of new build housing and private housing RMI.
As well as the closure of the Carluke factory, Marshalls also
announced a reduction in shifts and capacity in other facilities, and a restructuring of its commercial team.
The company said: “These actions are expected to deliver annualised savings of approximately £9m. The board has reduced its capital expenditure plans without impacting critical projects, is executing a programme of surplus land disposals, and has continued to focus on efficient working capital management in order to reduce the group’s net debt.”
www.buildersmerchantsjournal.net August 2023
us through our digital channels and in our branches.
“The opportunities presented by the requirement to decarbonise the UK’s built environment and address the shortage of both private and social housing remain significant and our unique portfolio of businesses, coupled with the development of innovative solutions for our customers, will enable the Group to deliver long term growth and create value for shareholders.” The company will also be looking to refine its spending to accommodate this.
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