Travis Perkins shares plunged after it warned that a slump in activity in the construction industry meant it was unlikely to pay a final dividend this year.

The builders’ merchant, which operates 1,200 outlets including the Wickes retail chain, saw its shares fall by almost a third, down 150.75p to 330.25p, as it responded to analyst concerns that it could breach banking covenants next year.

Financial times, The Times, Daily Telegraph