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    TPK   GB00BK9RKT01


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Travis Perkins plc - Q3 2021 trading update

10/28/2021 | 02:01am EST

Travis Perkins (TPK) Travis Perkins plc - Q3 2021 trading update 28-Oct-2021 / 07:00 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.


"Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR)"

28 October 2021

Travis Perkins plc - Q3 2021 trading update

Continued positive trading momentum; increasing 2021 earnings guidance


-- Positive trading momentum has continued with like-for-like sales growth of 13.1% (13.3% on a two yearlike-for-like basis)

-- The Merchanting business delivered like-for-like sales growth of 15.3% (11.8% on a two year like-for-likebasis) with end market demand remaining robust, notably in RMI

-- Toolstation grew by 1.4% on a like-for-like sales basis (25.2% on a two-year like-for-like basis) in Q3as customer mix normalised following exceptional demand from DIY customers during 2020

-- Given robust underlying performance, the Board now expects that adjusted operating profit for the fullyear 2021 will be ahead of current market expectations* and will be at least GBP340m (inclusive of around GBP40m ofproperty profits)

Nick Roberts, Chief Executive, commented:

"The Group has delivered a strong performance in the third quarter and is navigating well-documented supply chain and cost inflation challenges very capably. End market demand remains robust and we are confident that we are in a strong position to deliver future growth.

As outlined at our Investor Update in September, the focus of the Group is to enhance our market leading propositions to win share and to provide new value added services to our customers as the construction process evolves to improve quality, drive efficiency and reduce carbon and waste."

*Market expectations defined as company compiled analyst consensus. This stood at GBP316m at time of publication and can be reviewed via: https://www.travisperkinsplc.co.uk/investors/analyst-consensus

Q3 2021 sales growth        Merchanting Toolstation Group 
Like-for-like sales growth  15.3%       1.4%        13.1% 
Net space change            (0.1)%      7.7%        1.1% 
Business disposals          -           -           - 
Trading days                -           -           - 
Total sales growth          15.2%       9.1%        14.2% 
Two-year like-for-like      11.8%       25.2%**     13.3% 
2021 YTD sales growth       Merchanting Toolstation Group 
Like-for-like sales growth  34.3%       19.3%       31.7% 
Net space change            (4.8)%      8.6%        (2.5)% 
Business disposals          -           -           - 
Trading days                (0.6)%      (0.3)%      (0.5)% 
Total sales growth          28.9%       27.6%       28.7% 
Two-year like-for-like      11.3%       36.7%**     14.1% 

**Excludes Toolstation Europe

Business performance

-- Overall Group positive trading momentum has continued with two year like-for-like sales growth of 13.3%in Q3, broadly in line with H1.

-- The Merchanting business delivered two-year like-for-like sales growth of 11.8% in Q3, slightly ahead ofH1. Total sales growth versus 2020 was in line with like-for-like sales at 15.2% as the business has now fullycycled the June 2020 branch closure programme. At a business unit level, the Travis Perkins General Merchantdelivered another excellent performance whilst the specialist businesses continue to see strengthening end marketdemand.

-- In Toolstation, demand from the core trade customer base remains very robust. The business is inexcellent shape with total UK sales some 45% ahead of 2019 during the third quarter. In Europe, the rollout of newbranches is on track and the business continues to attract new trade customers.

-- Industry wide inflationary pressure, driven by heavyside manufacturer and core commodity price increases,has accelerated in the period with price inflation of around 11% in Q3 (compared to around 7% in Q2).

-- The Group continues to benefit from its extensive supply chain and strong supplier relationships in orderto maximise product availability to customers. Despite the challenges presented, colleagues across all businesseshave worked incredibly hard to ensure that disruption to customer service has been minimal.

Group Chief Financial Officer Alan Williams will be hosting a call for analysts and investors at 8.30am BST. Dial in details are available via the following link:



Travis Perkins                          Powerscourt 
Matt Worster                            James White / Ngozi Emeagi 
+44 (0) 7990 088548                     +44 (0) 207 2501446 
matt.worster@travisperkins.co.uk        travisperkins@powerscourt-group.com 
Heinrich Richter 
+44 (0) 7392 125417 


ISIN:           GB00BK9RKT01 
Category Code:  QRT 
TIDM:           TPK 
LEI Code:       2138001I27OUBAF22K83 
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State 
Sequence No.:   125378 
EQS News ID:    1244150 
End of Announcement  EQS News Service 

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1244150&application_name=news

(END) Dow Jones Newswires

October 28, 2021 02:00 ET (06:00 GMT)

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Analyst Recommendations on TRAVIS PERKINS PLC
More recommendations
Sales 2021 4 622 M 6 103 M 6 103 M
Net income 2021 227 M 300 M 300 M
Net Debt 2021 473 M 625 M 625 M
P/E ratio 2021 15,4x
Yield 2021 4,81%
Capitalization 3 423 M 4 526 M 4 520 M
EV / Sales 2021 0,84x
EV / Sales 2022 0,78x
Nbr of Employees 28 710
Free-Float 98,1%
Duration : Period :
Travis Perkins plc Technical Analysis Chart | TPK | GB00BK9RKT01 | MarketScreener
Technical analysis trends TRAVIS PERKINS PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 1 557,50 GBX
Average target price 1 844,19 GBX
Spread / Average Target 18,4%
EPS Revisions
Managers and Directors
Nicholas John Roberts Chief Executive Officer & Director
Alan Richard Williams Chief Financial Officer & Director
Jasmine Mary Whitbread Non-Executive Chairman
Phil Tenney Chief Information & Technology Officer
Frank Mark Elkins Chief Operating Officer
Sector and Competitors