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Wickes & Toolstation owner’s profits slump amid soaring inflation

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Wickes and Toolstation parent company Travis Perkins has blamed soaring inflation and dwindling consumer confidence for the hit it took in its full-year profits for 2017. In its full-year results, the DIY and home improvement firm reported pre-tax profits of £330.6 million before exceptionals, which was a nine per cent dip from the £364.7 million recorded in 2016. Travis Perkins attributed this to rising costs resulting from the depreciation of the pound since the Brexit referendum in June 2016, and inflation, which it said was still working its way through the supply chain

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Wickes & Toolstation owner’s profits slump amid soaring inflation

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