A signage is pictured at Travis Perkins, a timber and building merchants yard in St Albans, Britain October 22, 2020.
The group said it now expected 2023 adjusted operating profit to be in the range of 175 million pounds ($215 million) to 195 million pounds, down from the 240 million pounds it had guided to in June, itself a 12% downgrade.
Shares in Travis Perkins sunk by as much as 12% in early deals, hitting their lowest level for over three years.
Travis Perkins said it remained confident in its longer-term outlook because Britain needed to build more homes and existing infrastructure would need to be decarbonised.
Separately, Forterra (FORT.L), a British company which manufactures clay and concrete building products, said demand for its products has softened since July.
Persons:
Travis Perkins, Paul Childs, Nick Roberts, Travis, Peel Hunt, Sarah Young, William James, James Davey, Emelia
Organizations:
REUTERS, Britain's, Peel, Thomson
Locations:
St Albans, Britain, British