Travis Perkins closes 30 branches and puts 600 jobs at risk as investors bemoan its UK-focused customer base
The UK's biggest builders merchant, Travis Perkins, is closing 30 branches in a move that puts 600 jobs at risk.
The company, which employs 28,000 people and has 2,060 stores, said it was taking the steps due to an 'uncertain UK outlook' for next year.
Profits will also be lower than expected this year due to weak sales in its plumbing and heating division, while it also cautioned over the outlook for 2017 as well.
The announcement resulted in its stock plunging 7 per cent, or 112.0p, at 1,376p this session, down more than 22 per cent since the referendum.
Analysts admitted investors are... read more
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