Britain's biggest supplier of building materials axed 400 jobs and closed 19 branches at the end of last year.

Travis Perkins has about 1,500 branches in the UK, including plenty across Gloucestershire, in Gloucester, Cheltenham, Tewkesbury, Stroud, Cinderford and Coleford.

The company, which also owns the Toolstation chain, has felt the effects of a slowdown in the construction sector and has said it was forced to take some "difficult decisions" to slash costs by £25 million this year.

The business has posted a 16% drop in adjusted operating profit to £295 million last year. However, sales have remained resilient, up 8.9% to 4.9 billion in 2022.

Travis Perkins has warned of a challenging 2023 as housebuilders slow down projects and home-owners delay improvements due to concerns about the economy and the jump in borrowing costs, Retail Gazette reported.

The news comes as Britain's overall construction market is expected to shrink about 5% to 7% this year in volume terms.

Travis Perkins chief executive Nick Roberts said: "In 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."