{"id":612984,"date":"2023-03-01T05:49:16","date_gmt":"2023-03-01T11:49:16","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/01\/travis-perkins-expects-more-price-inflation\/"},"modified":"2023-03-01T05:49:16","modified_gmt":"2023-03-01T11:49:16","slug":"travis-perkins-expects-more-price-inflation","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/01\/travis-perkins-expects-more-price-inflation\/","title":{"rendered":"Travis Perkins expects more price inflation"},"content":{"rendered":"<div id=\"wrapper_sleeve\">\n<p><img loading=\"lazy\" decoding=\"async\" width=\"620\" height=\"414\" src=\"https:\/\/cdn.ca.emap.com\/wp-content\/uploads\/sites\/8\/2018\/01\/Travis-Perkins_warehouse_builders-merchant_materials-supplier-1024x683.jpg\" alt=\"Travis Perkins warehouse builders merchant materials supplier\"  >        <\/p>\n<div>\n<p>Travis Perkins has predicted that price inflation will carry on throughout what it says will be a \u201cchallenging\u201d 2023.<\/p>\n<p>In its financial results for the year to 31 December 2022, the UK\u2019s largest builders merchant said that, although inflation was moderating, it did not anticipate any \u201cnotable deflation\u201d in manufactured products.<\/p>\n<p>It said it therefore expected \u201cmid to high single-digit percentage product-cost inflation\u201d in the year ahead.<\/p>\n<p>The company revealed that it spent \u00a315m on a restructuring, including closing 19 branches and making 400 redundancies, during 2022, in anticipation of a slump in construction activity in the months ahead. Overall, this will save it \u00a325m in 2023, it said.<\/p>\n<p>Group turnover grew to \u00a35bn in 2022, from \u00a34.6bn in 2021. Its pre-tax profit was down to \u00a3245bn from \u00a3305.6bn in the prior year.<\/p>\n<p>The results come as the Builders Merchants Federation said that the price of building materials had grown 16.2 per cent in 2022, despite the volume of materials sold falling 8 per cent.<\/p>\n<p>As well as the restructuring, the merchant said its profit was hit by making less from its property sales than in previous years and the loss of two trading days due to extra bank holidays for the Queen\u2019s Jubilee and funeral.<\/p>\n<p>It also said the private domestic new-build, and repair, maintenance and improvement sectors were likely to be the worst hit.<\/p>\n<p>Travis Perkins chief executive Nick Roberts said: \u201cIn the second half of the year we made some difficult decisions in response to the weaker trading environment and we continue to be watchful of market trends, working closely with our customers and suppliers to stay on the front foot.<\/p>\n<p>\u201cWhile it is early in the year and macroeconomic uncertainty remains, the combination of our diverse end-market exposure, appropriate cost actions and further market share gains driven by continued strategy execution, will enable the group to deliver another resilient trading performance in the year ahead.\u201d<\/p>\n<\/p><\/div>\n<h3>Related articles<\/h3>\n<\/p><\/div>\n<p><a href=\"https:\/\/www.constructionnews.co.uk\/financial\/travis-perkins-expects-more-price-inflation-28-02-2023\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Ian Weinfass<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Travis Perkins has predicted that price inflation will carry on throughout what it says will be a \u201cchallenging\u201d 2023. In its financial results for the year to 31 December 2022, the UK\u2019s largest builders merchant said that, although inflation was moderating, it did not anticipate any \u201cnotable deflation\u201d in manufactured products. It said it therefore<\/p>\n","protected":false},"author":1,"featured_media":612985,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29443,595],"tags":[],"class_list":{"0":"post-612984","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-perkins","8":"category-travis"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/612984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=612984"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/612984\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/612985"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=612984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=612984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=612984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}