Travis Perkins (TPK) Q3 2025 TU earnings summary

Executive summary

• Like-for-like sales increased by 1.8% in Q3 2025, driven by improved performance in the Merchanting segment, especially General Merchant business.

• Specialist Merchants' markets remain subdued, while Toolstation delivered solid trading and continued focus on margin improvement.

• The group is prioritizing top-line momentum, market share recovery, and operating performance stabilization.

Financial highlights

• Group like-for-like revenue growth was 1.8% in Q3 2025; total revenue growth was 0.3%.

• Merchanting segment saw like-for-like revenue growth of 1.7% but total revenue declined by 0.3% due to network changes.

• Toolstation achieved like-for-like revenue growth of 2.3% and total revenue growth of 3.0% in Q3 2025.

• Year-to-date, group total revenue declined by 1.3%, with Merchanting down 2.1% and Toolstation up 2.8%.

Outlook and guidance

• Continued investment in pricing and targeted promotions is expected in the near term to maintain competitiveness.

• Focus remains on capital allocation discipline and overhead management to support reinvestment and future growth.

• Anticipation of new CEO Gavin Slark's arrival in January to further drive strategy.