Travis Perkins to scale back operations due to Brexit uncertainty
21 October 2016
The builder’s merchant said given “levels of future demand remain difficult to predict the Group has chosen to implement a number efficiency programmes and branch closures”.
This includes the closure of ten smaller distribution and fabrication centres and over 30 branch closures. The moves affect 600 employees.
John Carter, chief executive, commented: “It is still too early to predict customer demand in 2017 with certainty and we will continue to monitor our lead indicators closely. Given this uncertainty we will be closing over 30 branches and making further efficiency driven changes in the supply chain, resulting in an exceptional charge of £40-50 million this year.”
Sales in its Plumbing & Heating division declined by 3.9% in the third quarter but overall Group sales grew by 3.4% in the same period.