Travis Perkins boss blames ‘distraction’ as profit outlook cut once again

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The new boss of Travis Perkins has said the building supplies firm has allowed itself to become “distracted” as the group slashed its profit outlook for the second time in three months after another hefty sales fall. Pete Redfern – the former chief executive of housebuilder Taylor Wimpey, who took on the role heading Travis last month – said he would also take direct control of the general merchant division, which has been hit particularly hard by trading woes, alongside the top job as part of turnaround efforts. It is clear that the group has allowed itself to become distracted and overly internally focused which has led to the underperformance in recent periods Pete Redfern, chief executive It cut its outlook for full-year underlying operating profits to around £135 million after the third quarter woes, having only trimmed it in August to about £150 million. “During this important period, I will combine the roles of group chief executive and managing director of the Travis Perkins General Merchant business.