Brexit creating ‘considerable uncertainty’ says Travis Perkins

UK builders’ merchant points to weaker demand before and after June vote

Builders' merchant Travis Perkins said Britain's vote to leave the European Union had created "considerable uncertainty" in the outlook for the building supplies market, with weaker demand in the run up to and period following June's vote.

The company, which trades through businesses including Wickes, BSS, Toolstation and Tile Giant, said its two-year like-for-like sales in July had been below the levels seen in the second quarter, although it had seen a gradual improvement through the course of the month.

“In our view it is too early to precisely predict end-market demand and we will continue to monitor the lead indicators we track and will react accordingly,” the company said on Tuesday.

Travis Perkins reported a 10.2 percent rise in adjusted pretax profit to 184 million pounds ($242.8 million) for the six months to end-June on revenue 5.8 percent higher at 3.1 billion pounds.

–(Reuters)