NEWSROUND Weak market blamed as TP profits plummet


Builders merchant group Travis Perkins posted a slight drop in revenue and a slump in operating profits for the year ending December 31 2023, a financial period described as “a challenging year in weak market conditions”.


The unaudited full-year results, released on March 5, show overall sales down 2.7% to £4.86bn, with operating profits tumbling 61% to £110m. After adjustments for exceptional items, such as the £60m put aside to cover redundancies, the 39


BMJ Industry


Awards scores new host for 2024


The 2024 BMJ Industry Awards has announced that its host for the gala lunch in September is Mark Durden- Smith, a sport and lifestyle


presenter, last seen wowing the audience at the BMF Conference in Istanbul last year.


Following his regular Aviva Premiership Rugby anchor duties, Durden-Smith was one of ITV’s main hosts for their Rugby World Cup 2015 coverage. He has previously hosted Sky Sports Centre and fronted Sky’s BAFTA winning rugby coverage. He co- hosted the Premiership Rugby coverage for 2017.


He hosted ITV1’s gameshow Freeze Ou, has presented ITV’s flagship show This Morning, and has been a regular newspaper pundit for ITV’s Lorraine. Durden-Smith has also hosted ITV1’s holiday series Wish You Were Here – Now and Then and has also fronted ITV1’s Boat Race Coverage which was nominated for a Broadcast Award.


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stand-alone Benchmarx branch closures, and adjustments to do with Toolstation France, the adjusted operating profits are reported as £180m, a 39% drop on the previous year.


The Merchanting segment had a challenging year with revenue down by 4.4% and adjusted operating profit down by 32.5% to £212m. The private domestic new-build market, primarily serviced by Keyline, CCF and Staircraft working with national and regional housebuilders, was hit by the economic turmoil in autumn 2022 with activity falling by around 20% in the year Toolstation in the UK, on the other hand, made good progress with 6.6% sales growth. In Europe though, the decision has


been made to pull out of France, with discussions ongoing around the business in Belgium and The Netherlands.


Nick Roberts, chief executive officer, said: “Ongoing economic challenges have significantly impacted our trading performance, driven by weakness in the new build housing and domestic RMI sectors, and compounded by deflationary pressures on commodity products. Faced with these challenges, we have invested to protect and build our leading market positions.”


Robert Price is right for Terry Howell


Independent Welsh builders’ merchant Robert Price has bought Terry Howell Timber and Builders’ Merchants for an undisclosed sum. Terry Howell, a long- established family business with branches in Newport and Pontypool, South Wales will continue to trade under the Terry Howell brand in the short term, as the Monmouthshire- based merchant works to ensure its smooth and efficient integration into the Robert Price Group.


number of specialist branches. The company operates under the Robert Price, Tudors and Gower Timber brands.


Luke Brown, managing director of Terry Howell (left) & David Pattison, sales director of Robert Price


Robert Price currently has 29 branches across South Wales and Herefordshire, including 19 traditional merchant yards and a


City Plumbing opens branch in Basildon


City Plumbing has opened a new Basildon branch, at Carnival Park on Carnival Close, which includes a Renewables Centre, Underfloor Heating Store and The Bathroom Showroom. The Renewable Centre offers tradespeople access to information, products and impartial advice about the range of renewables products, including lower temperature heating technologies.


Hemal Morjaria, managing director of Renewables and Electrical City Plumbing, said:


William Godfrey, managing director of Robert Price says: “As a local, family business, Terry Howell share many of Robert Price’s strengths; particularly a committed staff team, integrity within our local communities and a strong relationship with our loyal customer base. We look forward to building on these strengths as we integrate the Terry Howell business.”


“This flagship branch gives our customers a broader range and greater availability of stock. Coupled with this, through the launch of our second Renewables Centre, we’re demonstrating


our ongoing commitment to a low carbon future with a host of sustainable heating and plumbing products on display. Our aim is to empower the trade to make a difference when it comes to renewable technologies.” Plumber and social media influencer Allen Hart officially opened the branch. The underfloor heating products on show are part of the Underfloor Heating Store , while The Bathroom Showroom displays range of bathroom products for both the trade and end customers.


www.buildersmerchantsjournal.net March 2024


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