Skip navigation

Gloucestershire Business News

Wickes plan returns as Travis Perkins posts loss

Travis Perkins has posted a loss on the back of a restructuring process which will continue with the demerger of its Wickes business.

The builders merchant had put plans for the DIY business on hold due to the coronavirus pandemic, but it is expected to be completed in the next couple of months.

Travis Perkins, which has branches in Gloucester, Cheltenham, Tewkesbury, Stroud, Cirencester, Lydney, Coleford and Cinderford, reported the loss of £22million for 2020.

That follows a £123million pre-tax profit in the previous year but follows a much-improved second half after losing £127million in the first six months of the year.

Chief executive Nick Roberts said: "We have shown great agility and versatility in adapting our working practices, further digitalising our engagement with customers and reshaping our business to suit the changing demands of our markets.

"Our teams have also been able to make excellent progress on a number of key initiatives supporting our strategic objectives, particularly around simplifying commercial deals and refining our pricing architecture, which will drive future benefits."

He continued: The Wickes digitally-led model has proved highly effective during the pandemic and the business is in great shape to embark on its journey as a standalone entity.

"While uncertainty remains, we have seen a good recovery through the second half which gives us confidence that the fundamental drivers in our markets are robust.

"The continuing progress against our strategic plans leaves the group well placed to outperform in those markets."

Related Articles

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Monday, April 19 Image

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Monday, April 19

The latest important news and updates from across Gloucestershire as the coronavirus crisis continues.

Boris Johnson applauds mortgage scheme on Gloucestershire visit Image

Boris Johnson applauds mortgage scheme on Gloucestershire visit

Prime Minister Boris Johnson described the property market as "generationally unfair" as he visited Gloucestershire to launch a scheme designed to help younger buyers.

Historic Woodchester Mansion Lodge on the market Image

Historic Woodchester Mansion Lodge on the market

A property built as the prelude to the famously unfinished Woodchester Mansion is up for sale.

Kier agrees £110m deal for housebuilding business Image

Kier agrees £110m deal for housebuilding business

Kier has agreed a deal to sell its housebuilding arm to a newly formed company for £110million.

Copyright 2021 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.