2 March 2021 | 08:48am
StockMarketWire.com - Builders merchant Travis Perkins swung to a full-year loss, as the pandemic hurt demand, and said it was recommencing a planned demerger of its Wickes DIY chain.
Pre-tax losses for the year through December amounted to £22 million, compared to a year-on-year profit of £123 million, as revenue dropped 12% to £6.16 billion.
Travis Perkins declared no dividends for the year.
The company had put the Wickes demerger process on hold last March, when the pandemic was reaching crisis proportions.
The process had now been revived and was expected to be completed in the second quarter of 2021.
In the second half of 2020, revenue from continuing businesses had returned to growth, at 1.4%, which Travis Perkins said demonstrated the resilience of its business models.
6 January 2021 | 09:00am
StockMarketWire.com - The FTSE 100 made moderate gains this morning, continuing its strong start to 2021 as the UK undertakes its massive Covid-19 vaccine rollout.
Markets also reacted to news that the Democrats were close to full control of the levers of government in the US after Senate run-off elections in the US.
High-street bakery chain Greggs estimated annual losses of up to £15 million and forecast that profit would not return to pre-COVID levels until 2022 at the earliest owing to the ongoing impact of the Covid-19 pandemic.
Over the fourth quarter, sales fell to £293 million from £344 million year-on-year and company-managed shop like-for-like sales averaged 81.1% of the 2019 level, the company said.