Travis Perkins plc (TVPKF) FH1 2025 Earnings Call Transcript

2025-08-05 13:08:01 ET

Travis Perkins plc (TVPKF)

FH1 2025 Earnings Conference Call

August 05, 2025, 03:30 AM ET

Company Participants

Duncan Cooper - CFO & Executive Director

Geoffrey Drabble - Non-Executive Chairman

Conference Call Participants

Ami Galla - Citigroup Inc., Research Division

Marcus Cole - UBS Investment Bank, Research Division

Shane Carberry - Goodbody Stockbrokers UC, Research Division

William Jones - Redburn (Europe) Limited, Research Division

Presentation

Geoffrey Drabble

Good morning, everybody, and welcome to the Travis Perkins Half Year results. I'm going to kick off with a short introduction, and then I will hand over to Duncan, who will take you through the financials in a lot more detail. That's why he's got the very thick blue ring binder there with all of the detail and I'm just standing up here. Look, I stepped in March, somewhat unexpectedly on this stage in March. And unsurprisingly, there was a fair bit of uncertainty, both internally and externally in terms of what all of that meant. So what we look to do -- sorry, I get this right. What we tried to do is settle down the business by focusing on 3 very clear priorities.

First one was, look, we needed a credible permanent CEO to take the business forward long term. And we also needed to address the losses in market share in the merchanting business. So this required us to address a series of organizational issues and very importantly, address a significant systems issue that we were facing during the course of last year. And finally, on a more positive note, I felt that Toolstation was at an important inflection point, and we should be a little more than handing in terms of both its growth potential and continuing that growth trajectory, but also recognizing the potential for it being a more significant profit contributor. So how have we done in terms of those 3 key objectives and how is the achievement of that work playing into our performance as we have moved through the quarter? Well, we would -- as you would have seen, we were delighted to appoint Gavin as CEO....

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