NEWSROUND
Slowing housing market costs Travis Perkins profit, branches and 400 jobs
The UK’s biggest builders merchant, Travis Perkins, has posted a fall in profits in the year to December 31 2022. The company reported adjusted operating profit of £295m, down 16.4%, hit by a £15m restructuring charge. Revenue grew 9% to £4.9bn.
The group reported a solid performance by the Travis Perkins General Merchant, which increased market share, enhanced its digital capability and expanded value-added services across its Hire, Benchmarx kitchens and Managed Services division. There were strong performances from BSS, Keyline
Baxi pledges to help boost heat pump training
Boiler manufacturer Baxi has been working alongside the Government to develop its new £5 million Heat Training Grant, designed to support 10,000 trainees to become low carbon heating experts with grants of up to £500 over the next two years. Baxi has pledged to match the £500 Government grant with another £500 worth of Baxi Works loyalty points for installers who use the voucher to train and achieve Baxi’s BPEC accredited qualification.
Upon completion of the course and registration of the installer’s first air source heat pump, points can be redeemed against a range of rewards including gadgets, vouchers, tools and workwear. “This is a great scheme and we welcome the Government’s focus on skills, and its commitment to the installer community who are keen to participate in the transition to decarbonised heating in buildings,” said Jeff House, External Affairs & Policy Director at Baxi.
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and CCF, while Toolstation saw good growth in the second half, after a tough first half.
“In the second half of the year we made some difficult decisions in response to the weaker trading environment and we continue to be watchful of market trends, working closely with our customers and suppliers to stay on the front foot,” said chief executive Nick Roberts. “While the housing market slowed later in the second half, this did not feed through notably into volumes as completions continued but is expected to be seen in 2023 with new housing starts currently forecast to slow.”
“Investment continues in our strategic growth programmes including selectively exploring new destination branches for the Travis Perkins General Merchant, rolling out Toolstation in both the UK and Europe and investing in growing our value- added services, notably Hire, Benchmarx kitchens and our Staircraft business.
“Whilst it is early in the year and macroeconomic uncertainty remains, the combination of our diverse end market exposure, appropriate cost actions and further market share gains driven by continued strategy execution, will enable the Group to deliver another resilient
trading performance in the year ahead. We continue to benefit from long-term strategic growth drivers in our markets including new environmental and safety legislation and commitments from both public and private sector customers to deliver against net zero targets. “We are committed to being at the forefront of both decarbonising the construction industry alongside developing the next generation of talent to create value for all of our stakeholders,” he continued.
CTD Tiles buys branches from Tile Giant
CTD Tiles Limited (CTD), part of the AURELIUS Group, has acquired 13 UK branches, from Tile Giant. The existing team members will become part of CTD.
The transaction will expand CTD’s nationwide network of branches and bolster its commitment to being one of the UK’s leading omni-channel specialist tile distributors. Katie Clapham, CTD’s HR &
and provide them the possibility to actively engage in delivering success. We are looking forward to welcoming our new team members.”
marketing director, said: “We want all of our CTD colleagues, to feel part of our growth story
New h&b Member is ceiling the deal
A merchant specialising in suspended ceilings and drylining, Pertonstore, is the latest recruit to the h&b Development Group, to help the business to grow and offer a broader product selection to its customers in Farnworth near Bolton.
Pertonstore is owned and run by the Wroe family. Specialising in suspended ceilings, drylining and insulation products within the building trade, the Pertonstore business has grown rapidly, selling to local tradesmen via the
well-stocked trade counter and warehouses, and nationwide through the website.
Pertonstore joined the h&b development Group to help continue that growth, using the group’s excellent buying deals to improve the business’s competitiveness and expand the range of products it can offer with access to a wider range of the building industry’s best brands.
“We want to be more competitive with other local
www.buildersmerchantsjournal.net March 2023
Shaun Mason, CTD’s head of commercial & supply chain, added: “We want to drive forward our vision of CTD and we will continue to look for further opportunities to grow both organically and through acquisitions.”
merchants and the nationals too,” says director Anthony Wroe, “and we believe that h&b’s great buying deals will help us to do that, freeing us up to concentrate on growing our family business.”
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