Published on 21 - January - 2009
Travis Perkins issues profits warning amid reports of falling salesTravis Perkins - owners of DIY store Wickes as well more than 600 builders merchants outlets nationwide - has blamed the downturn in the housing market for a slump in profits.
Six months ago Wickes pulled out of the conservatory market and it also appears to be scaling down its involvement in the bedroom fitting market.
The firm issued the warning for the first four months of the year up to April saying a 25% fall in profits, across unspecified areas, could see profits fall by about £800m.
The business has already cut 1,200 employees before Christmas to slash overheads.
However, the true extent of the firm's downturn in profits will not be known until its results are published on February 19.
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