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.
