Travis Perkins , Britain's biggest supplier of building materials, said tough conditions in the new-build and renovation markets would not ease in the short term, even as inflation moderates and prices start to fall for commodities like timber.
FILE PHOTO-A signage is pictured at a building of Travis Perkins, a timber and building merchants yard in St Albans, Britain October 22, 2020. REUTERS/Paul Childs/File PhotoSays commercial and public-sector markets are resilient, Britain's biggest supplier of building materials, said tough conditions in the new-build and renovation markets would not ease in the short term, even as inflation moderates and prices start to fall for commodities like timber.
Chief Executive Nick Roberts said near-term trading was expected to remain difficult as persistent consumer inflation and higher mortgage rates impacted people's confidence to undertake work. Roberts said the company had expected demand to return as inflation abated from the second quarter onwards. However, he said areas such as infrastructure, commercial, industrial and public sector were resilient.
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