Annual Report and Accounts 2020
Building for the future
Getting the fundamentals right
The Covid-19 pandemic has acted as a catalyst for change in our business and has provided the opportunity to accelerate some of our strategic initiatives to strengthen the core of the business and position us well for the future.
The impact of the pandemic meant that our 2020 financial performance was lower than in 2019, but we have demonstrated great resilience.
Getting it right for our:
Colleagues, customers, suppliers and shareholders
Customers - see page 16
Strategy - see page 18
Suppliers - see page 65
Colleagues - see page 66
Strategic report
Governance
Financial statements Other information
www.travisperkins.co.ukwww.toolstation.comwww.benchmarxkitchens.co.ukwww.bssindustrial.co.ukwww.ccfltd.co.ukwww.keyline.co.ukwww.wickes.co.ukwww.cityplumbing.co.ukwww.theunderfloorheatingstore.com
Travis Perkins plc Annual Report and Accounts 2020
1
What's in our report
Strategic report 3
Governance 75
Financial statements 121
Other information 189
Strategic report
3 Financial performance
4 At a glance
6 Chairman's statement
8 Chief Executive's report
12 Investment case
14 Market dynamics
16 Business model
18 Our ambition & strategy
24 Strategy in action
26 Key performance indicators (KPIs)
28 Business performance and priorities
32 Merchanting
34 Plumbing & Heating
35 Toolstation
36 Wickes highlights
40 Financial performance
44 Statement of principal risks and uncertainties
52 Sustainability overview
71 Section 172 statement
73 Non-financial information statement
Governance
76 Board of Directors
78 Chairman's introduction
79 Corporate governance report
84 Nominations Committee report
87 Audit Committee report
93 Directors' Remuneration report
97 Remuneration Policy report
105 Annual Remuneration report
117 Directors' report
119 Statement of Directors' responsibilities
Financial statements
122 Independent Auditor's report
131 Consolidated income statement
131 Consolidated statement of comprehensive income
132 Consolidated balance sheet
133 Consolidated statement of changes in equity
134 Consolidated cash flow statement
135 Notes to the consolidated financial statements
179 Company balance sheet
180 Company statement of changes in equity
181
Notes to the Company's financial statements
Other information
190 Five-year summary
192 Other shareholder information
Throughout the Strategic Report, and consistent with prior years, alternative performance measures ("APMs") are used to describe the Group's performance. These are not recognised under IFRS or other generally accepted accounting principles ("GAAP"). The Board manages and assesses the performance of the business on these measures and believes they are more representative of ongoing trading and facilitate meaningful year-on-year comparisons and hence provide useful information to shareholders. APMs are defined in the notes to the financial statements and reconciled to the closest GAAP measure.
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Travis Perkins plc Annual Report and Accounts 2020
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Travis Perkins plc published this content on 26 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 March 2021 10:02:09 UTC.