Restructuring costs and covid send Travis Perkins into the red

By Dave Rogers2021-03-02T07:41:00

But firm says trading bounced back in second half of last year to help narrow overall losses

The cost of shutting nearly 200 branches and axing thousands of jobs helped send Travis Perkins to a £7.7m pre-tax loss last year.

Last June, the builders merchant said it was beginning a restructuring programme, hastened by the impact of the first government lockdown last March because of the covid-19 pandemic, that has now seen 190 branches, around 10% of its network, shut and 2,500 jobs, 9% of its workforce, go with annual cost savings expected to be around £120m.

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