Travis Perkins (LSE:TPK) fell 4.8% to 520p after its first-quarter trading update showed group like-for-like revenue down 1.7%.
Revenue in the Merchanting segment was down (2.3)% on a like-for-like basis as construction activity levels remain subdued, and network change of (1.9)% reflects the disposal of Staircraft in 2025.
Toolstation UK had a solid first quarter with like-for-like revenue growth of 2.6% driven by maturity benefits from its estate and margin improvements, while Toolstation Benelux was down (7.1)% on a like-for-like basis.
Against this market backdrop the businesses are making progress in passing through manufacturer price increases and delivering further procurement benefits, whilst continuing to maintain market share in the General Merchant.
Looking forward the company remains focused on managing its overheads and identifying further operational efficiencies, with ongoing capital discipline and incremental cash generation opportunities continuing to enhance the company's financial position, it said.
