Travis Perkins in Brexit TURMOIL as 600 jobs at risk

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The FTSE 100 grouping, which employs 28,000 people and trades from more than 20 questions including Wickes, Toolstation and Tile Giant, is also closing 10 smaller allocation centres and writing off the value of some IT equipment as it admitted sales had been hollow in its plumbing and heating division.

It will take a £40-50million hit from the effectiveness drive, while aiming to relocate some of the staff affected.

Annual zipped pre-tax earnings will be “slightly below” market forecasts of hither £415million.

Shares fell 66p to 1422p.

Customers range from big structure firms to sole traders to do-it-yourselfers – with its fortunes tied to consumer conviction and housing transactions.

Chief executive John Carter, pictured, remarked: “What Brexit has created is a degree of uncertainty in both those s ces, both in how many people are going to move homes and what disposition be the degree of consumer confidence.

“Our plumbing and heating results were inadequate and while market conditions have worsened, we are not satisfied with our bringing off and will commence reviewing these operations.

“It is still too early to prophesy demand in 2017 with certainty and we will continue to monitor our command indicators.

“We have a proven track record developed over multifarious years of taking swift action to take advantage of opportunities as they go up in whichever rt of the cycle we find ourselves.”

Although group yard sales were up 3.8 per cent in the third quarter, with Wickes and Toolstation “ in the long run outperforming” the market, plumbing and heating sales dipped by 3.9 per cent.

That com rtment generates just under a quarter of group revenue and nearly 10 per cent of profits.

Analyst Charlie Campbell at Liberum bring to light: “It is not easy to understand whether softness is due to uncertainty around the EU referendum and its after-effects or a enlist of more fundamental weakness. Fundamentals still appear reasonable, with furthering re-mortgaging activity and significant pent-up demand, but time will declare whether these fundamentals can drive growth in uncertain times.”

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