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
- 14:54 Nuclear threat: How Yorkshire residents were told to protect...
- 14:54 Cramlington firm enjoying sweet success thanks to £600,000 investment
- 14:54 Lancashire's National Rural Crime Survey focuses on rural crime
- 14:54 Man Utd boss Jose Mourinho hits back at Paul Scholes over Paul...
- 14:53 Wigan Council highly commended for efficiency
- 14:52 First straws now single-use plastic, popular pub group makes...
- 14:51 Burglary at Leeds house: Police release CCTV images of two men
- 14:51 Man Utd vs Tottenham: Paul Merson delivers FA Cup semi-final...
- 14:51 The best creators in the Premier League: Which five men have made...
- 14:51 Tottenham boss Mauricio Pochettino reiterates passive stance on FA...
- 14:50 Lancashire's National Rural Crime Survey focuses on rural crime
- 14:50 Warning for London Marathon runners as temperatures hit 70-year record
- 14:50 Children’s services are ‘fragile’ says trust
- 14:48 Here's how to ease the symptoms of hay fever
- 14:47 Children’s services are ‘fragile’ says trust
- 14:46 "Please give my baby's presents back!" Grieving Batley mother's...
- 14:45 This weekend’s going to be so hot Marathon runners have been told...
- 14:43 Did you know that Leeds once had an open-air swimming pool?
- 14:43 UK’s rowdiest brunch heading to Leeds
- 14:42 A career in clips: paying tribute to Dale Winton
- 14:42 ReFILL: Cafe and resort bar join the war on plastic
- 14:42 West Brom transfer helper Guiliano Terraneo has identified his...
- 14:42 Work at Pont ex-library site ‘on schedule’
- 14:42 Self-confessed Nazi jailed after calling for genocide of Jewish...
- 14:42 Burglary at Leeds house: Police release CCTV images of two men
- 14:41 Mother who watched daughter burn to death on school bus sues
- 14:41 Meghan Markle age, height, real name, what her title will be and...
- 14:41 H&H Group chief executive steps down
- 14:40 Sevilla's Gabriel Mercado jokes he cannot hurt Barcelona star...
- 14:40 Amir Khan vows to return to world champion form ahead of Phil Lo...