Travis hit by downturn at Wickes business

Builders’ merchant Travis Perkins warned of lower-than-expected profits today after suffering a “marked” deterioration in orders.

The firm said its DIY and consumer-focused division Wickes – acquired for £950m (€1.41bn) in February – had been hit by price-cutting among rivals and a further deterioration in consumer confidence.

Travis said market conditions had worsened significantly since mid-October, leaving like-for-like sales at Wickes down 9% in the four months to the end of October, compared with a 6.2% decline for the ten months to that date.

The group prepared investors for annual profits of not less than £205m (€305m), compared with analysts’ forecasts of around £225m (€335m).