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UK's Travis Perkins profits fall for second straight year

Reuters - UK Focus

LONDON, Feb 28 (Reuters) - Travis Perkins (Frankfurt: 893509 - news) , Britain's biggest supplier of building materials, reported a 7 percent fall in annual core earnings, a second straight decline, and said it remained cautious on the market outlook.

The group, which trades from over 20 businesses including Travis Perkins, Wickes, BSS, Toolstation and City Plumbing said adjusted operating profit was 380 million pounds ($528.4 million) in the year to Dec (Shanghai: 600875.SS - news) . 31.

That was below analysts' consensus forecast of 384.8 million pounds and 409 million pounds made in 2016.

Travis Perkins said it anticipated the mixed market backdrop would continue in 2018. As a result it would focus capital investment behind its key priorities, and slow investments elsewhere. It forecast that 2018's performance would be similar to 2017's. ($1 = 0.7192 pounds) (Reporting by James Davey; editing by Kate Holton)