1017 GMT - Travis Perkins published a disappointing set of results, reflecting the urgency of finding a successor for its CEO in order to continue the group's transformation, AJ Bell investment director Russ Mould says. In 2024, the U.K. building-materials retailer hired a number of high-level executives in the industry to shake up the struggling business, including Taylor Wimpey boss Pete Redfern as CEO, Mould says. However, Redfern's recent departure for health reasons has somewhat undermined these efforts, with the company taking significant impairments, Mould adds. The swing to a loss also reflects weak demand and pressure on pricing, he says. "It badly needs to appoint a successor to Redfern so the transformation of the group can be continued," Mould adds. Shares are down 6.7% at 513 pence. (michael.susin@wsj.com)
(END) Dow Jones Newswires
April 01, 2025 06:17 ET (10:17 GMT)
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