Reuters
Fortunes of companies such as Travis Perkins are firmly tied to the health of the housing repair, maintenance and improvement segment, which has been under some pressure as Britons continue to curb spending in the wake of broader economic woes. Travis Perkins said sales across its merchanting segment dropped 4.4% in the quarter on the back of subdued volumes, while pricing had largely stabilised but remained lower than prior year. Earlier this month, Britain's largest tile retailer Topps Tiles said subdued demand in the domestic repair and maintenance sector, especially for big-ticket projects, persisted into 2024, adding that lower volumes would impact its half-year profit.