Travis Perkins (LON: TPK), the UK builders’ merchant and tool retailer, said today that group revenue fell 1.6% in the three months to the 30th of September. It said the decline matched the first half, and blamed subdued UK construction, most of all in new-build housing.
Shares stood at 579p at 8.01am today, down 2.5% from yesterday’s close of 594p, according to a delayed quote. They opened at 580p and had traded between 577p and 580.5p. The trading update was published at 7am.
Merchanting, the group’s builders’ merchant businesses, saw like-for-like volume fall 9.0%. That measure excludes new or closed sites. Price and mix, the effect of pricing and of the product and customer mix, added 6.8%, so like-for-like revenue fell 2.2% and total revenue fell 2.6%.
The company says Merchanting is prioritising higher-margin trade and protecting the group against credit risk, which it says helps mitigate the hit to profitability. It is also lapping deeper promotions run in the third quarter of last year.
Toolstation, the group’s tool and trade-supplies retailer, split by geography in the quarter: UK revenue rose 3.7% while Benelux revenue fell 3.8%.
| Business | Q3 2026 total revenue (%) | Year to date (%) |
|---|---|---|
| Merchanting | (2.6) | (2.6) |
| Toolstation UK | 3.7 | 3.0 |
| Toolstation Benelux | (3.8) | (5.3) |
| Group | (1.6) | (1.8) |
Toolstation UK is growing in line with expectations and has more store openings planned for 2027. Benelux remains challenging, and the strategic review of that business continues, with no outcome or timetable given. Its quarterly decline is smaller than the year-to-date fall.
Chief Executive Officer Gavin Slark pointed to cost control:
In challenging market conditions we remain focused on what we can control. Our ongoing cost discipline and trading approach are protecting profitability whilst we continue to identify and implement further operational efficiencies. We look forward to providing more detail on our strategy and operational priorities at our Preliminary results in March 2027.
Gavin Slark, Travis Perkins
The statement says the group continues to implement measures to improve operational performance, free cash flow and its financial position, but gives no figures for any of them.