Housing stocks drag on FTSE as inflation woes build into Bank of England interest rates call Economics Fears about the impact of interest rates on the UK’s struggling economy echoed around the City into this week’s set-piece interest rate meeting at the Bank of England. A trio of Tuesday trading updates from London-listed firms with direct exposure to the housing market revealed rising costs. The insight reverberated across an industry which depends on affordable mortgages [...]
Iran war to drive up building costs, warns Travis Perkins boss Property The boss of the UK’s largest builders’ merchant has warned building costs are poised to rise as suppliers warn they are facing soaring energy costs. Gavin Slark, the new boss of Travis Perkins, said the conflict in the Middle East and the resulting spike of energy prices will force manufacturers to put up prices to [...]
FTSE 100 Live: Stocks inch up; Gas prices surge after drone attacks Markets Good morning and welcome back to the City AM liveblog. The FTSE 100 closed up 0.5 per cent yesterday, settling at 10,317.69p led by a three per cent jump in Endeavour Mining. It came as global markets were brought some reprieve from declining oil prices. The price of Brent crude, the international benchmark for oil [...]
Travis Perkins: New CEO named after torrid year and FTSE 250 shares slump May 9, 2025 The man chosen to lead an almighty rebuilding project at construction supplies giant Travis Perkins has been named. Gavin Slark has been picked as the Northamptonshire-headquartered company’s new chief executive and is set to take up his role no later than 1 January, 2026. Slark has held the same position at SIG since 2023 and [...]
Travis Perkins: Profit plunges as construction industry recovery remains sluggish April 1, 2025 Travis Perkins has reported a 99 per cent plunge in operating profit in 2024, after a torrid year for the Nottinghamshire-headquartered firm. The FTSE 250 building group reported an operating profit of £2m, down from £161m in 2023, after a 4.7 per cent revenue decline. Shares in the group fell 10.4 per cent in early [...]
Travis Perkins: CEO steps down due to ill health March 10, 2025 The chief executive of Travis Perkins has stepped down with immediate effect because of ill health. Pete Redfern was appointed to lead the Northamptonshire-headquartered group in September 2024, succeeding Nick Roberts. In a statement issued to the London Stock Exchange, Travis Perkins said its board “supports Pete’s understandable decision to prioritise his health and wishes [...]
Travis Perkins lowers profit forecast on housing market slowdown August 6, 2024 Travis Perkins said its restructuring measures and tightened controls have helped cut overheads by £19m compared to the previous year, with cost inflation absorbed.
Travis Perkins appoints non-exec as new boss July 10, 2024 Pete Redfern has been appointed as the new chief executive officer of Travis Perkins, succeeding current CEO Nick Roberts, who is leaving after five years in the role. The UK-based building supplies firm has suffered in the economic downturn and slowdown in construction, with profits falling as much as 70 per cent in 2023. “[Redfern] [...]
Travis Perkins chief who oversaw Wickes demerger to step down after profit slashed March 27, 2024 The chief executive of Travis Perkins is to step down after five years in the role.
No bonuses for top bosses at Travis Perkins after profits slump by £175m March 12, 2024 Executive directors at Travis Perkins will not receive their bonuses after the company's profits were slashed during its latest financial year.