Travis Perkins hit by £15m cost on axing 400 jobs at end of last year

By Daniel Gayne2023-02-28T12:30:00

Builders merchant shut 19 branches in fourth quarter to weather impending slowdown

A fourth quarter restructure hit Travis Perkins’ bottom line last year as the firm prepared itself for a drop in construction activity.

Adjusted operating profit at the builders’ merchant was £295m in the year to 31 December 2022, down 16% from £353m the previous year, partly due to a £15m restructuring charge.

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