Summary
SHARES in Travis Perkins have risen by 55 per cent from pounds 10.30 to pounds 15.95p since we tipped the DIY group four years ago. Travis trades through a network of 1,002 builders' merchants and 179 Wickes DIY superstores, which were bought for pounds 990m early last year.
As with many of its peers, the group suffered a dismal 2005 due to the sharp slowdown in consumer spending. But a recovery led by Geoff Cooper, the chief executive appears to be well underway. Last week, the shares rose by a further 5.2 per cent on the back of results for the first half that were substantially ahead of the City's expectations. Analysts had expected pre-tax profits to come in at about pounds 95m, although the actual figure was pounds 110.4m.See the full content of this document
Extract
Travis Perkins
Sales have risen and a pounds ...
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