Building materials supplier Travis Perkins saw like-for-like sales fall back in the group's second quarter (to end-September), as the group struggled with the poor weather and the competing attraction of the Olympics.
Total sales in the quarter were down 2.4% year-on-year, although the group noted that the quarter this year had one less trading day.
Like-for-like sales per trading day were down 3.5% on the corresponding period of last year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Trading improved in September after the uneven and fragile trading conditions experienced so far this year, and our continuing tight management of costs and efficiency gains from self help projects mean we remain on target to meet market expectations," said Geoff Cooper, the group's Chief Executive.
Group Financial Director, Paul Hampden Smith, has announced his intention to retire from the board early next year.
More to follow ...
JH
-
Side hustle tax changes: HMRC reforms could save thousands from filing self-assessment tax returnsThe government plans to raise the tax-free threshold for trading income – here is how it could help your side hustle
-
Return to the office: is working from home coming to an end?More and more employers want their staff to return to the office. Is it a good idea?
