Travis Perkins shares slide as company confirms weak sales

<p>Travis Perkins shares have slipped on weak sales news.</p>

Shares in Travis Perkins have plunged on the London Stock Exchange this morning (October 12th) as the company announced that its sales fell over the summer.

The building supplies group said that – excluding the effect of bank holidays and changes in floor space – its sales dropped by 3.5 per cent in the three months to September 30th.

Travis Perkins – which owns Wickes – has blamed the disruption brought about by the Olympic and Paralympic Games and the bad weather on its lower demand and added that matters looked to be improving last month.

"Our continuing tight management of costs and efficiency gains from self-help projects mean we remain on target to meet market expectations," chief executive Geoff Cooper added.

At 10:55 BST, Travis Perkins slipped by 2.8 per cent on the London Stock Exchange to 1103.00p per share, while the FTSE 100 index in London was down 0.2 per cent to an index value of 5814.8 points.

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