i'd like some advise on this stock, new to share's but have a large holding at present, company figures look good, but share price seems to be under valued, any thoughts would help, i have a target figure of 22.00 end of year.

1nudger

I don't do a great deal of fundamentals, so can't tell you if they are undervalued or not and please take what I say with a pinch of salt, I am somewhat prone to lapses of judgement, DYOR and all that.

However, I do like this chart for the following reasons:

1. The SP is in a near perfect uptrend since August last year and following recent activity there is no reason to think that this will not continue.

2. During June the SP formed a double bottom and has bounced. (Double bottom is a reversal pattern after a downtrend). What is improtant about this bounce is the accompanying increase in volume.

3. Following today's rise the SP has achieved a chart breakout, again on volume. By which I mean breaking above the resistance of 1750 established in March (4 times) and May. You may wish to be cautious and wait until the 1800 to confirm this breakout.

4. Moving Averages are all in the right order. RSI looks like it has some legs left.

5. MACD looks good: Moving average crossover & centre line crossover.

Not sure why you have set a target of 22. looking at the chart, the next hurdle should be the resistance at 19, whic is where I would set my target.

Wish I had been looking at this chart a week ago, although I may still have a go.

As I said, please take with a pinch of salt!!

good luck

pth

1nudger

Can't reply to your email as your email is not activated.

Today's news certainly kicked the arse out of the SP. I actually posted this chart on the TA thread this morning, as I was interested to see if any other TA guys would have agreed with my comments on Friday.

Personally, I would have waited for the confirmation of the chart breakout through 1800 before investing. This was calculated on a 3% rise above the previous resistance. This would certainly have saved my bacon today. It will be interesting to see what happens tomorrow, the SP may make another double bottom, which will result in a rebound. Also, drops on profit warnings / toughening market conditions tend to be initially overdone.

pth

Having invested in TP, they have solidy declined for 12 months. I was wondering if they are close to the bottom, or have a way to go yet? Any thoughts would be most welcome.

Tubas

up or down?

that's better....now how far?

This is 2008 -

Travis Perkins - very little comment here - nothing since 2006 = wow!

So I guess the sp was on the back of Institutional holders backing the booming housinig market, without looking at the yield....which is pretty small.

Currently suffering from a PW and further drop today, but still 2.56 which is serious money IMHO . . Mkt cap is quite high...again it is something I expect to fall, maybe sub 1 - - - as are many other House/Builder stocks...Look at Taylor Wimpey - typically 25p - ouc.

THIS CAN NOT BE HAPPERNING

Very bad news....in debt and no divi now.


Travis Perkins cautious
MoneyAM


UK builders' merchant Travis Perkins said it expects a more rapid decline in market activity. The company said today turnover for the nine months to the end of September is up 3.3% compared to 2007.

However, in recent weeks, trading has been below earlier expectations with both the merchanting and retailing businesses experiencing more difficult conditions as sentiment in construction markets has reacted to the extraordinary turmoil in financial markets.

Profits before tax and non-recurring charges for 2008 are seen to be at the low end of analysts' expectations.

For the first nine months of 2008, total turnover in the merchanting division is up by 3.1%. Whilst like-for-like turnover per trading day for this period was down by 1.2%, the trend of like-for-like sales in both September and early October has deteriorated sharply to minus 10%.

Total turnover in the general merchanting business is up by 2.1% with like-for-like turnover per trading day down by 1.1%. For this period, the specialist merchanting business has total turnover up by 4.9% and like-for-like turnover per trading day down by 1.4%.

The merchanting division continues to gain market share on a like-for-like basis. Product cost inflation has remained high and our gross margins have held up well despite lower market volume available.

Wickes also continues to gain like-for-like market share. Total turnover for the 39 week trading period ended on September 27th was up 1.2%. For this period, like-for-like sales per trading day were down by 2.6% with core products down by 2.6% and showroom sales lower by 2.5%.

Wickes gross margins are slightly below last year, reflecting modest increases in promotional activity throughout the industry.

Since the end of 2007 Travis Perkins has added a net 82 new branches to our merchanting network and a net 8 new Wickes stores representing retail space growth of 4.0%. It now trades from 1,241 locations including 26 branches operated by Toolstation.

The company said it is now taking further action to prepare the Group in advance of the expected steeper decline in activity. These actions include a reduction in operating costs and measures aimed at further reducing debt.

Travis will implement, before the end of 2008, actions aimed at reducing costs by at least 65m. This means, after absorbing overhead cost inflation and the full year effect of network expansion of 35m, costs are expected to show a net 30m reduction in 2009 from 2008.

Cash flow continues to be in line with expectations, with gains in working capital and reductions in capital expenditure partly mitigating the difficult trading conditions.

Plans for capital expenditure have been cut to less than 140m (of which 102m was spent in the first half). Net capital expenditure for 2009, after disposal receipts, will not exceed 50m.

To accelerate the reduction of debt, the board believes it is unlikely to recommend a final dividend for the current year.

Is this cash-flow surprising. We know house-sales are down, that building-sites are stopped, for want of buyers and so on - what would be surprising is that their suppliers of Sand, Bricks and Timber are not already down. The notion they'd pay the Dividend out of precious cash is - unreal.
This is (presumably) a well-run/managed Company and they need that cash, to reduce debt . . . . and probably will have been told so by their Bankers.
If they have significant debt tht helps to stop the Bank forclosing - but it means they will suffer a greater interest-rate...and most companies find they are into debt - despite shareholding understanding.
+Big companies use debt to expand their business - fact.

up or down?

I was speaking to a guy today who has worked on building sites all his life and he told me all work has stopped and men laid off its the worst he has seen so where is the demand coming from.

Up or down...?


This could fall to 70p in next 12 months imo.

Travis Perkins underlying profits slump - MoneyAM


Builders maerchant and Wickes DIY owner Travis Perkins today revealed a worse than expected 22.5% slump in underlying profit for the year ended 31st December 2008.

The group said it had incurred an exceptional charge of 56.2m reflecting the severe downturn in UK construction markets.

Travis Perkins said it made profit before tax and non-recurring charges of 202.5m in 2008, compared to 261.4m in 2007.

The group ended the period with reported net debt of 1.02bn and said it will not pay a final dividend.

Geoff Cooper, CEO, commented: 'We took early action in 2008 to deal with the increasingly tough trading environment and have set our business ready to manage continuing difficult market conditions in 2009.

'Our businesses continue to outperform competitors. In 2008 our divisions grew market share on a like-for-like basis and continue to record leading operating margins in each market segment - a particular advantage at this stage of the cycle. A number of competitors have already closed outlets and we expect further sector rationalisation, improving our prospects for continued like-for-like market share gains.

'Based on current forecasts, and with cost and debt reduction plans already in place and lower interest rates, we aim to reduce covenantable net debt by a further 125m in 2009.

'We have already taken decisive action, and stand ready to take further steps if necessary. We believe our approach will produce the best outcome for shareholders in this unusually challenging economic environment.'

28May RNS tells me something about new shares being issued - could the company just tell us how many shares are involved? . . . . what level of dilution does this represent?
The sp has dropped dramatically, although the last few months has seen a considerable "feel-good" rise in the sp . . . . but I don't see building suddenly increasing . . . . so I fail to understand this recent rise....and today's fall is directly a result of a very confusing RNS....IMHO.
+Come-on Directors, tell us in a few words, eh?

Massive rise since mid june-and large rise today-setting on its highs

why such a large gain?

any views

Interim results today?

Until I came across this thread yesterday, I had never looked at these before. The chart looks interesting and this could prove to be a good day trading share.

head and shoulders formed at 8.16??

I've been watching these since I posted - anyone else see a triple top (within a triple top?) in the chart in post 1?

Good move up this morning - ahead of results later today.

Preliminary results.

FINANCIAL HIGHLIGHTS

Group revenue down 8% at 2,931m

Adjusted operating profit down 17% to 225m


Adjusted profit before tax of 180m


Adjusted EPS down 22% to 75p


Gross operating cost savings of 60m achieved ahead of target


Retail operating profit up 19% with increased operating margin


Free cash flow 294m up 59% (Note 14)

Capital base strengthened through rights issue with net debt more than halved to 467m

OPERATING HIGHLIGHTS

Like-for-like headcount reduced by 13% since start of recession

Operating focus shifted to cost and debt reduction

Merchanting business rated top amongst national merchants

Successful Wickes marketing campaign delivers market share gain

Interim Management Statement.

Group revenue for the four months ended 30 April 2010 was up by 2.2%, with like-for-like sales up 1.4 %.

Indicative Offer.

In the papers today.

Interim Results.

FINANCIAL HIGHLIGHTS

Revenue up by 5% to 1,522m

Adjusted Profit before tax up by 24% to 112m

Net debt down to 410m, a 103m underlying reduction (Note 12)

Adjusted Net Debt to EBITDA improved to 1.2 times (Note 13)

Industry leading operating margin of 7.9%

Dividend payment resuming with a 5.0p per share interim payout



OPERATING HIGHLIGHTS

First half result ahead of management's expectations

Successful launch of organic growth developments in both divisions

Both divisions increasing market share on a like-for-like basis

Network expansion resumed on a cautious basis - now up to 1,315 units

Recommended offer for The BSS Group plc announced 5 July of 658m enterprise value

Can someone tell me what is going on with these shares as I have been in hospital and haven't been keeping up.
Thank you

Not been watching this one recently pat but the chart is great.

Interim Management Statement.

Trading update - continuing sales growth and market share gains across both divisions

Thanks -mitzy and skinny
what does takeover of BSS mean in terms of shares/price? Don't remember any notification being sent or vote taken.

Up 3 quid since the start of December - not bad.

not bad..lol.

Interim Results.

FINANCIAL HIGHLIGHTS

Group revenue up 54% at 2,347m, up 7.2% on a like-for-like basis

Adjusted profit before tax up 25% to 140m

Adjusted EPS up 13% on a reported basis

Free cash flow generated of 136m

Interim dividend of 6.5p per share

Underlying net debt reduced by 87m to 696m (note 12b)

OPERATING HIGHLIGHTS

Strong like-for-like performance in merchanting with sales increase of 10.7%, a market outperformance of 6%

BSS integration programme progressing well

Synergy programme on track with a 15m benefit expected in 2011

BSS operating margin before synergies increased to 4.3%

Retail like-for-like sales increase of 0.3%, an organic market out performance of 3.6%

Acquisition of 13 ex-Focus sites for 8m

This one's been on my radar for quite some time. Have just never taken the plunge though. The one in my local town is always busy...

Builders' merchant Travis Perkin will release an interim update on Wednesday, which should hopefully give us some feedback on how the building and construction business is going.

The trade has had a traumatic time since the financial squeeze put the brakes on housebuilding, and Travis Perkins shares slumped to 176p in the depths of 2008. But anyone who bought them then would be sitting pretty today with a four-fold rise to 744p. And with decent profit growth forecast for this year and next, with a very well covered dividend, the shares still look cheap

Interim Management Statement.

Looking for a move above 850.

Blimey - I didn't mean today!

Management Appointments.

TRAVIS PERKINS PLC ("the Group")

Management Appointments

Travis Perkins Plc announces a number of new appointments to its senior management team to support its business growth and development following the successful integration of the BSS businesses and the establishment of a new divisional structure.

The new structure, reporting through John Carter, the Group Chief Operating Officer, effective from 1 January, 2012, will comprise;

General Merchanting, comprising the four regional Travis Perkins businesses;

Specialist Merchanting, comprising Keyline, CCF, Benchmarx and our associate merchant, Rinus Roofing

Plumbing & Heating, comprising the ex-BSS Group businesses of BSS Industrial, PTS, Direct Heating Spares, together with City Plumbing Supplies and City Heating Spares;

Consumer, comprising Wickes, Tile Giant and our associate multi-channel business, ToolStation.

The two remaining ex-BSS Group businesses, Birchwood Price Tools and F&P Wholesale will report through our central Commercial and Supply Chain functions and for external reporting purposes they will be part of the Plumbing & Heating Division results.

Not bad for holding for four days!


RNS Number : 8984S

Travis Perkins PLC

28 November 2011

Travis Perkins plc

Notification of Director or PDMR share interest

The board of Travis Perkins plc ("the Company") has been notified on the dates stated below of the sale by the persons named below of ordinary shares of 10p each in the Company ("shares"), following the exercise of options under the Travis Perkins Executive Share Option Scheme at an option price of GBP2.01, on the dates set out below, As a result of these exercises and sales, such persons have the beneficial interests in shares set out below.


Date Name Status Exercise Number of Sale Date Number Sale Beneficial % of ISC
notified Date shares of shares Price interest
exercised sold
----------- ----------- -------- ------------ ---------- ---------- ---------- -------- ----------- ---------
25
November
2011 R Proctor PDMR 21/11/11 4,000 25/11/11 4,000 762.93p 20,166 <0.1%
----------- ----------- -------- ------------ ---------- ---------- ---------- -------- ----------- ---------
25
November
2011 M Meech PDMR 21/11/11 28,544 25/11/11 14,310 762.93p 39,201 <0.1%
----------- ----------- -------- ------------ ---------- ---------- ---------- -------- ----------- ---------

RNS Number : 8234T

Travis Perkins PLC

13 December 2011

Travis Perkins plc

Trading Update - Trading overall in line with expectations

Travis Perkins, the UK's leading builders' merchant and DIY retailer, today issues this Trading Update for the 11 months to the end of November.

Including BSS in 2010 on a proforma basis (but excluding data from the recently disposed Buck and Hickman business from both years), Group turnover for the eleven months to the end of November was up 5.5%. This period included one less trading day in our merchanting and BSS divisions than for the comparable period in 2010. Overall turnover without the proforma adjustment was ahead by 54.1%.

For the first eleven months of 2011 total turnover in our merchanting division, comprising our general and specialist merchanting businesses was up by 11.3%, including an increase in like-for-like turnover per trading day of 9.3%. Like-for-like turnover per trading day for the last two months to 30 November increased by 8.0%.

In general merchanting total turnover was up 9.8% for the eleven months, with like-for-like turnover per trading day up 9.0%, whilst our specialist merchanting business saw total turnover increase 13.7% with like-for-like turnover per trading day up by 9.8%.

In Wickes, delivered turnover for the 47 week trading period to 26 November was up 0.6% with like-for-like delivered sales down by 1.6%. Core product sales, representing some 80% of turnover, increased on a like-for-like basis by 1.6%. Kitchen and bathroom ("K&B") delivered sales were down 13.3%, reflecting continued poor and weakening consumer confidence for major purchases. For the last eight weeks total (core plus K&B) like-for-like delivered sales were down 6.8%.

Total turnover for BSS for the first eleven months of 2011 (excluding Buck & Hickman from both years) was up by 2.4%, with like-for-like turnover per trading day up by 2.8%. Like-for-like turnover per trading day for the last two months to 30 November increased by 2.7%.

We remain on track to meet our net debt target of GBP600m at the year end.

These trends mean that our outlook for the year as a whole remains unchanged from that stated in our October Interim Management Statement.

Our next update will be our preliminary results on Wednesday 22 February 2012.

RNS Number : 1041U

Travis Perkins PLC

16 December 2011

16 December 2011

TRAVIS PERKINS PLC

Travis Perkins announces signing a new GBP550 million Forward Start Banking Agreement

Travis Perkins plc ('Travis Perkins'), the UK's leading builders' merchant and home improvement retailer, announces that it has signed a new GBP550 million Forward Start Banking Agreement with a syndicate of banks led by Barclays Corporate, Lloyds Tsb Bank and The Royal Bank Of Scotland.

The GBP550 million facility, which can be drawn from April 2013, the expiry date for the Group's existing GBP800 million facility agreement, runs until December 2016, and is at a level that provides the Travis Perkins Group with the bank funding it requires for the foreseeable future.

The new agreement will increase the Group's funding costs in line with changes that have occurred in the market since the last financing agreement was signed in 2008. As a result it is anticipated that the Group will incur additional financing costs of around GBP4m in 2012.

The existing facility, which currently totals GBP800m, continues until April 2013 with further amortisation repayments of GBP29m in both April 2012 and October 2012.

Notification of Preliminary Results

Travis Perkins will announce its Preliminary Results for the twelve months ended 31 December 2011 on Wednesday 22 February 2012.

RNS Number : 7325W

Travis Perkins PLC

03 February 2012

Re: Toolstation

Travis Perkins has been informed by the Office of Fair Trading that it intends to review Travis Perkins' recent acquisition of the remaining 70% of Toolstation. While Travis Perkins will cooperate fully with any review, the Company sees absolutely no basis for this notification and will be seeking clarification from the OFT at the earliest opportunity.

ends

Preliminary Results.

TRAVIS PERKINS PLC

RESULTS FOR THE YEAR ENDED 31 DECEMBER 2011


CONTINUED ROBUST PERFORMANCE

ON MARKET SHARE GAINS, MARGINS, EARNINGS AND CASH GENERATION

DIVIDEND UP 33%

FINANCIAL HIGHLIGHTS


· Group revenue up 52% at £4,779m, up 6% on a like-for-like basis

· Adjusted profit before tax up 37% to £297m

· Adjusted EPS up 21% to 93.1p

· Proforma adjusted group operating margin maintained at 6.6%

· Net debt reduced by £191m to £583m with adjusted net debt to EBITDA of 1.3x (note 15)

· Total dividend per share up by 33% to 20p, including a final dividend of 13.5p

OPERATING HIGHLIGHTS

· BSS acquisition synergies realised in 2011 exceeded expectations at £20m

· Expected synergies for 2012 increased to £30m

· BSS integration ahead of schedule

· Strong like-for-like performance and market share gains

· Toolstation acquisition completed on 3 January 2012

· 13 ex-Focus stores acquired and trading ahead of expectations

Just closed half here for @+50%.

Interim Management Statement.

Interim Results

FINANCIAL HIGHLIGHTS

· Group revenue up 2.7% at £2,412m, down 0.7% on a like-for-like basis

· Before property profits adjusted EBITA, up 9.7% to £151m, adjusted PBT up by 7.3% to £137m, and adjusted EPS up 10.7% to 43.5p (note 13)

· Reported PBT after exceptional items up 25% to £162m

· Free cash flow generated of £99m

· Interim dividend of 8p per share up 23%

OPERATING HIGHLIGHTS

· Exceptional Q2 wet weather conditions impacted heavy-side business

· Gross margin before synergies increased by 0.5%

· Continuing market share gains across our business

· Tight cost control, like-for-like overheads flat

· Acquisition of Toolstation completed at an expected total cash cost of £107m

· Heads of terms agreed for investment in Toolstation Europe

Interim Management Statement

As expected, total group like-for-like sales per working day held up relatively well compared to quarter 2. This occurred despite continuing disruption from poor weather and the Olympics, and we saw a noticeable improvement in sales trends once these disruptions faded towards the end of the quarter, and as colder weather boosted plumbing and heating activity.

Trading Update

Trading Update - Trading in Line with Expectations

Travis Perkins, the largest supplier of building materials in the UK, today issues this trading update for the 11 months to the end of November 2012.

Group turnover for the eleven months to the end of November was up 1.6%. This period included two more trading days in our merchanting and plumbing and heating divisions than for the comparable period in 2011.

In trading conditions that remain difficult, like-for-like sales trends for the Group are similar to those reported in October, with year-to-date like-for-like sales slightly lower at -1.8%, although our specialist Merchanting division has seen a small positive impact from the closure of a competitor.

MIDAS SHARE TIPS: Travis Perkins is primed for house market upswing

By Joanne Hart, Financial Mail On Sunday

PUBLISHED:22:24, 12 January 2013| UPDATED:22:24, 12 January 2013




In 2007, more than 1.6 million homes were sold in Britain. Two years later the figure had fallen to fewer than 850,000 and it has hovered around that level ever since, with just 869,000 sales recorded in 2012.

The rapid and prolonged decline has been disastrous for builders and contractors and should have been equally dreadful for builders’ merchant Travis Perkins – but it has not.


The company has used the recession to acquire rival operators and increase market share to become the country’s largest supplier of building materials, with 2,000 stores and 16 brands, including Wickes and Tile Giant, as well as Travis Perkins itself.





Shed loads: The firm aims to expand to 3,000 outlets in the next few years

The shares have started the year well but at 1218p, they have real long-term potential and should gain ground as the economy begins slowly to recover and consumers become more optimistic.


An Englishman’s home is said to be his castle. In other words, people take pride in their homes and view them as their personal fiefdoms.


However, they are particularly keen to make their property look its sparkling best when they are about to sell it or have just moved somewhere new.


Over many years, therefore, the biggest influence on construction activity has been the scale of property transactions. These have begun to increase.


Although the absolute number of moves was subdued last year, activity picked up in the second half and is expected to continue to do so in 2013 as the Government’s Funding for Lending scheme kicks in, encouraging banks to lend more money.


Mortgage approvals in November (the latest month for which statistics are available) reached 54,036, the highest November figure since 2009 and high street banks are becoming more competitive with their mortgage products.


Recovery is expected to be gradual, but it should deliver material benefits to Travis Perkins, particularly in the second half of the year, when people’s incomes are forecast to begin rising again.


Once the property market becomes more active, renovation work should increase quite sharply. In a survey of 1,000 homeowners carried out in the autumn by stockbroker Liberum Capital, more than 650 people said their homes needed redecoration or repair, so they will probably get cracking pretty quickly once confidence improves.

In the meantime, Travis Perkins has been positioning itself to best advantage. In 2010, it bought plumbing and heating merchant BSS in a £558million cash and share deal, and a year ago it acquired the remaining 70 per cent of fast-growing hardware retailer Toolstation, having bought 30 per cent of the group in 2008.

These deals and other, smaller, transactions have catapulted Travis Perkins to its current, market-leading position and ambitious chief executive Geoff Cooper is keen to expand the business still further.


Over the next few years, he hopes to take the group to 3,000 stores and increase its burgeoning online business.


Most building materials are bought in shops, but online transactions are growing rapidly and Travis Perkins has been upgrading what it offers on the internet to ensure it keeps pace with customer demand.


Cooper has even dipped a toe into the Continent via five Toolstation branches in the Netherlands. Overseas expansion will be measured, but might prove a valuable addition to the group in time.


Back at home, Travis is taking on a new finance director this spring. He is Tony Buffin, a 41-year-old Briton who has spent the past three years in Australia, working as finance director at supermarket giant Coles.

As part of a tight-knit management team, Buffin helped increase Coles’ underlying profits by 63 per cent between 2009 and 2012 and should boost results at Travis too. Brokers expect profits to rise from £263million in 2011 to £310million in the year just ended and £335million for the current year.


The dividend is also forecast to show good progress, increasing from 20p in 2011 to 24p for 2012 and 29p for 2013.


Midas verdict: Travis Perkins prides itself on having the right products on the shelves in sufficient quantities that builders can find what they need when they need it. Staff are trained to offer useful advice and tend to stay with the group for longer than most shop attendants. The company also benefits from its size as this means it can secure the best deals with suppliers. Cooper is a focused and determined leader and the shares should deliver value over three to five years. Buy.

Stonking performance so far this year - unfortunately I only have a peppercorn holding atm.

Does the ''atm'' mean from 8am you may have a few more. :-))

:-) No - I've been selling a few trinkets in the sector - its all getting a bit too 'fizzy' IMO.

lol, May well rise with the Midas tip, 8am will reveal all.

New Group Finance Director to join in April

Further to the announcement on 24 October 2012 regarding the appointment of Tony Buffin as the Company's new Group Finance Director, the Company can now confirm that his date of joining will be 8 April 2013.

Travis Perkins acquires Solfex Energy Systems

Travis Perkins announces the acquisition of renewable energy distribution specialists, Solfex Energy Systems ("Solfex").

Solfex was formed in 2006 by Stuart and Susan Cooper and operates as an integrator of renewable energy systems, using its distribution platform to integrate and supply components to the UK's renewable companies. The business provides a value-added service to customers through comprehensive technical and customer support. In September 2011, it secured equity investment from Panoramic Growth Equity.

Solfex has generated a cumulative annual revenue growth rate of 179% over the past three years, and in December 2012, was listed as the UK's fifth fastest growing private company in the Sunday Times Virgin Fast Track 100. In its last financial year, Solfex achieved revenues of £21.9m and an operating profit of £2.2m. Initial cash consideration was £8m with further amounts due depending on performance.

CREF Investment Management > 4%

Preliminary Results

SUSTAINED OPERATING MARGIN AND STRONG CASH GENERATION; FULL YEAR DIVIDEND UP 25%

FINANCIAL HIGHLIGHTS

· Group revenue up 1.4% at £4,845m, down 1.4% on a like-for-like basis
· Adjusted operating profit, up 4.3% to £327m, adjusted PBT up 1.1% to £300m, and adjusted EPS up 2.1% to 95.1p
· Reported PBT after exceptional items (note 6 and note 9) up 16.2% to £313m
· Sustained adjusted operating margin to 6.7%
· Free cash flow generated of £242m
· Underlying £155m debt reduction, net debt down to £452m, with lease adjusted net debt to EBITDAR at 3.2x (2011: 3.4x) (note 17)
· Full year dividend of 25p per share up 25%, with adjusted dividend cover now 3.8 times

OPERATING HIGHLIGHTS

· Increased BSS synergy target achieved and integration programme near completion
· Toolstation network expansion to 123 branches and Toolstation Europe trial launched in the Netherlands
· Gross margin before synergies increased by 0.2%
· Tight cost control, like-for-like overheads down 2.3%
· Solfex systems acquired on 30 January 2013 for initial consideration of £8m

Very nice chart :-)

New highs today @1,461p

What Travis Perkins (TPK) don't want - after a year in which non-stop rain reduced building site and outdoor DIY activity - is an extended winter that eats into what should be Spring activity. But that's exactly what we have at the moment.

With the share price having gone from 1100 to 1200, 1300 and 1400p in this first 3 months of 2013, there will presumably be a few investors banking profits ahead of the tax year end next week.

Fellow DIY materials supplier B&Q this week announced a plan to cut back floor space and close stores after a drastic drop in sales.

The building materials group Wolsely (WOS) has reported a 20% fall in half year profits to £199m, with strong growth in the US outweighed by problems in Europe and the UK. These conditions have persisted into the third quarter, and analysts reckoned the difficulties probably dampened hopes of a special dividend payout. It has already cut 990 jobs across Europe since August and has announced a restructuring of its French business Reseau Pro which involves the closure of 24 loss making branches and the disposal of 88 others.

Interim Management Statement

Group revenue for the four month period ended 30 April 2013 was 1.2% lower than the corresponding period last year. Like-for-like sales were 1.8% lower.

The very cold start to the year materially affected construction industry activity, and this coupled with continued tough trading conditions, impacted sales. However, our performance in April and early May was encouraging following a return to more normal seasonal weather. The shape of sales for the year so far has been consistent with our guidance, albeit the first quarter volumes were lower than anticipated.

Interim Results

FINANCIAL HIGHLIGHTS

· Revenue growth of 1.6%; 0.9% on a like-for-like basis

· Revenue in the final two months of the half increased by 7%, 6.1% like-for-like

· Adjusted profit before tax up £5m to £136m up 4.1%

· Profit after tax of £106m down 18.9%

· Adjusted EPS up 6% to 43.9p from 41.4p

· Net debt reduced by £46m to £406m driven by increased free cash flow of £116m

· 25% increase in interim dividend to 10.0p

OPERATING HIGHLIGHTS

· Start to the year very tough with significant deflation

· Considerable step up in performance in May and June

· Strong cost control in General Merchanting division

· Revenue for Specialist division up 8.0%

· Operating margin up 0.4% in Plumbing and Heating

· Acquisition of Solfex in the renewable energy products sector

Trading update on Thursday 17th.

Bank of America Merrill Lynch Buy 1,744.00 1,460.00 1,900.00 Upgrades

Deutsche Bank Hold 1,744.00 1,352.00 1,352.00 Reiterates

Interim Management Statement

nterim Management Statement - Encouraging sales momentum in the third quarter

· Total sales growth of 8.6%, 7.1% on comparable trading days basis

· Like-for-like sales growth of 6.3%

· Stronger sales momentum in our trade divisions but consumer markets lagging

· On-track to meet earnings per share of around 100 pence despite lower property disposal gains

Notice of Full Year Results - 26 February 2014

Travis Perkins will announce its 2013 full year results on 26 February 2014. Management will also be hosting a presentation for institutional investors and investment research analysts at 11.00am on the day.

In addition, the following reporting dates have been set for the Company for the remainder of 2014:

2014 first quarter interim management statement 24 April 2014

2014 Annual General Meeting 28 May 2014

2014 Half Year results 31 July 2014

2014 third quarter interim management statement 17 October 2014

2014 Full Year results 26 February 2015

Preliminary Results

STRONG LIKE-FOR-LIKE GROWTH, ADJUSTED PROFIT BEFORE TAX UP 12% AND DIVIDEND INCREASED BY 24%
FINANCIAL HIGHLIGHTS

· Revenue now over £5bn with annual growth of 6.3%, 5.0% on a like-for-like basis

· Operating profit up 10% to £330m

· Adjusted profit before tax up £35m or 12.4% to £321m

· Profit after tax up £16m to £265m

· Adjusted EPS up 14.3% to 103.6p

· Final dividend up 24% to 21p, giving full year dividend of 31p

· Net debt reduced by £104m to £348m
OPERATING HIGHLIGHTS

· All divisions achieved revenue growth

· Strong overhead control throughout the Group
· Operating margin improved by 0.1pp to 6.8%

· 43 new branches and 15 implants opened, including 9 Toolstation openings within Wickes

· Acquisition of Solfex and an online heating products distribution business

Citigroup Buy 1,868.50 2,040.00 2,040.00 Upgrades

Interim Results

HIGHLIGHTS

• Like-for-like revenue(2) increased by 10.2% with growth in all divisions
• Adjusted operating profit(2) up 18.8% to £175m with adjusted operating margin(2) up • 0.4% to 6.4%
• Adjusted EPS(2) improved by 21.6% to 53.4p
• Interim dividend increased by 22.5% to 12.25p
• Lease adjusted return on capital(2) employed improved by 1ppt to 10.5%
• Strong free cash flow(2) with cash generated from operations up £56m to £222m
• Net debt(2) reduced by £51m to £297m
• Capital expenditure up 24% at £65m in the half
• New fascias opened in every division, totalling 55 for the Group

TFP

Big Director Buys here today, ive followed them in and bought results 17th of this month.

Ex dividend next Thursday 9th Oct @12.25p

Yep good stuff.

Interim Management Statement

Third quarter highlights

Total sales growth of 6.9%
Like-for-like sales growth of 5.7%
Two-year like-for-like sales growth of 12.4%, building on strong first half
Trading consistent with expectations at the start of the year

market doesn't like those figures albeit that there is some customary "sell on the event" built in

Stock fighting back, think you were a bit quick off the mark Cyners.

i hold them in my sipp and very happy to do so - thanks to you if i recollect

i'm currently watching ftse closely to see if it can really hold 6250 as that is quite a key level

Yes these round figures are liked.

Final Results

HIGHLIGHTS

For the year ended 31 December 2014


Revenue increased by 8.4% to £5.6bn, with like-for-like sales up by 7.3%

Adjusted earnings per share increased to 119.0p, up 14.9%

Final dividend of 25.75p giving a full year dividend of 38.0p, up 22.6%

Gross capital investment increased by £58m to £165m funded from cash flows to drive on-going share gains and sustainable growth

54 new sites opened with a further 47 implants added to the network

Acquisition of Primaflow, a plumbing and heating distribution business for £16m

Supply chain capabilities enhanced with new Warrington primary distribution centre and second heavy-side range centre

Lease adjusted return on capital employed improved by 0.4ppt to 10.4%
Long-term funding secured with £250m bond issued on investment grade terms

StockMarketWire.com
Travis Perkins has reported that in the first quarter of the year there was sales growth of 7.2%.

Like-for-like sales growth was 5.1% with a two-year like-for-like sales increase of 18.4%.

Overall trading is in line with expectations

John Carter, chief executive, commented: "The majority of our businesses performed well against strong comparators in the first quarter, driven by the investments we have made to improve our propositions in the initial stages of our five-year plan."

Good looking chart for this lot eh?

very happy indeed to have them in my sipp where any profits realised remain tax free, and will do so regardless of the colour of the next parliament - tartan perhaps?

StockMarketWire.com
Travis Perkins sees its FY EBITA at the lower end of market expectations. It noted total sales growth of 5.5%, and like for like growth of 2.6%.

CEO John Carter commented:
"Our strategy continues to deliver outperformance of the markets in which we operate. Whilst we planned for a modest reduction in RMI markets through the summer given the slowdown in secondary housing transactions towards the end of 2014 and early part of 2015, we saw weaker market demand than anticipated.

"This was in both housing and non-housing RMI spend as evidenced by the recent construction output data, leading to dampened growth across all of our businesses. We indicated earlier in the year that we expected volumes to pick-up during the second half and October trading so far has seen a recovery in volumes.

"Importantly, our strategy remains firmly on track and we have continued to significantly outperform our key markets.

"We have made a number of investments over the last 18 months to improve our general merchant proposition, begin the transformation of Wickes, re-segment our plumbing and heating businesses, modernise our IT and supply chain infrastructure and expand the geographic footprint of Benchmarx, Toolstation and CCF.

"These investments have been made to improve our customer propositions, optimise our network and exploit our scale advantage, and underpin our confidence that we will continue to drive sustainable growth and improving returns."

sure glad i tucked away my tasty profit a couple of months back!
perhaps worth looking to see if now sufficiently o'sold

StockMarketWire.com
Travis Perkins's FY pretax profit has fallen 30.2% to GBP224m, from GBP321m. Revenue rose 6.5% to GBP5.9bn, from GBP5.6bn. Dividend per share was 44p, from 38p.

CEO John Carter commented:
"The Group has delivered a good performance in 2015 despite the weaker than expected RMI market in the second half of the year.

"We made very good progress on our key strategic priorities; modernising General Merchanting, transforming Wickes and re-segmenting the Plumbing & Heating division, and we continued to improve our customer propositions, delivering access to greater ranges with better availability.

"The increased capital and operational investments are enabling us to leverage the scale of the business and exploit structural advantages in sourcing and supply chain, driving our continued outperformance.

"We believe that the growth drivers in our markets remain strong and welcome the return to growth of mortgage approvals and secondary housing transactions in the second half of 2015.

"This has supported good growth in RMI sales for the Group in January and February 2016. This gives us further confidence that through our strategy we will successfully deliver against our medium-term targets of sales outperformance, low double-digit profit growth and improving returns."

HIGHLIGHTS:
- Adjusted operating profit, excluding property profits, increased by 8.7% to £389m

- Adjusted EPS increased by 4.3% to 124.1p, lower than the 7.6% growth in adjusted operating profit due to lower property profits and non-cash charges relating to foreign exchange contracts

- Network expansion continued, with net 53 new branches and stores opened, including implants

- Significant progress on major strategic fronts, including supply chain investments in General Merchanting and completion of the re-segmentation in Plumbing & Heating

- Free cash flow of £317m (note 13) at a cash conversion rate of 77% (2014: 66%) used to fund £134m of growth capex

- Lease adjusted return on capital employed (note 15b) increased to 10.5% reflecting higher earnings offset by the increase in capital employed including the £104m invested in freehold property

- Non-cash impairment charge of £141m recognised against goodwill and other intangible assets of PTS and F&P given the challenging market conditions

StockMarketWire.com
Travis Perkins said all its businesses showed good growth in Q1 2016, driven by the recovery in the RMI market and by the investments it has made to improve customer propositions as part of its five-year plan.

Total group sales were up 5% in Q1. Group like-for-like sales in Q1 were up 4.2%, led by gains in Consumer (7.3%), General Merchanting (4.7%), Plumbing & Heating (2.2%), and Contracts (2.1%).

"The modernisation of General Merchanting continued with a clear focus on driving the maturity of the heavyside range centre network, improving customer access to broader ranges and better stock availability," the company said in a statement.

"The physical aspect of the restructuring of the Plumbing & Heating division has been successfully completed; the priority is now to take full advantage of the customer focused businesses that have been created.

"Growth in the Contracts division moderated, against strong comparators in 2015, but there remains significant opportunity to continue to take further share in these markets.

"The Consumer division maintained the strong momentum established in 2015, with excellent like-for-like growth."

Another bombed out stock post Brexit, which has recovered slightly.

StockMarketWire.com
Travis Perkins has hiked its H1 pretax profit by 10.7% to £176m, from £159m, with interim dividend rising to 15.25p a share, from 14.75p.

It posted revenue of £3.11bn, from £2.94bn, with like-for-like revenue up 3.1%.

CEO John Carter said:
"The solid performance in the first half of 2016 reflects our leading market positions, the hard work of our teams and the investments we have been making to improve all aspects of our business.

"The investments to extend our range, build out our distribution infrastructure, expand our network and accelerate our online growth have helped us continue to win market share and to position us well for the future.

"We plan to continue to invest in our businesses where we can generate strong returns and create value for our shareholders over the long-term.

"It is clear that the result of the EU referendum has created significant uncertainty in the outlook for our end markets and we did experience weaker demand in the run up to and immediately following the referendum.

"Our two-year like-for-like sales in July have been below the levels we experienced in the second quarter, however we have seen a gradual improvement through the course of the month.

"In our view it is too early to precisely predict end market demand and we will continue to monitor the lead indicators we track and will react accordingly.

"We have a proven track record of reacting swiftly to changes in market conditions, and the strength of the Group's balance sheet, the competitive advantage we have created through the investments we have made and our ability to flex the cost base leaves us well positioned to continue to win market share and drive shareholder value over the medium term."

Peel Hunt Hold 1,503.50 - 1,910.00 Reiterates

Panmure Gordon Hold 1,503.50 1,500.00 1,500.00 Retains

Reuters - Travis Perkins, Britain's biggest supplier of building materials, warned on Wednesday it would not meet market expectations for full-year profit, blaming a disappointing performance in its plumbing and heating business.

The group, which trades from over 20 businesses, including Travis Perkins, Wickes, BSS, Toolstation and Tile Giant, said it expected core earnings for 2016 to be "slightly below" the current market consensus of 415 million pounds.

Travis Perkins also highlighted uncertainty in the outlook for 2017 as it reported third quarter total sales growth of 3.4 percent and underlying growth of 2.0 percent.

It plans to close over 30 branches and make further efficiency driven changes in the supply chain, resulting in an exceptional charge of 40 million to 50 million pounds in 2016.

Unaudited results for the full year ended 31st December 2016

Full year highlights

Revenue increased by 4.6%, like-for-like revenue up 2.7% (6.6% two-year like-for-like)
Adjusted operating profit, excluding property profits, increased by £3m to £392m (2015: £389m)
The balance sheet was further strengthened with net debt reduced by £69m to £378m
Strong free cash flow generation of £436m at a cash conversion rate of 107% (2015: 77%), used to fund £187m of growth capital expenditure
Full-year dividend increased 2.3% to 45.0p per share, reflecting confidence in cash generation
Network expansion continued, with net 25 new branches and stores opened (82 gross)
Lease adjusted return on capital employed reduced to 10.9% reflecting continued investment in network expansion, store refits and IT which will underpin future earnings growth and cash generation
An exceptional non-cash impairment charge of £235m has been taken against the goodwill and intangible and tangible assets, principally in the plumbing & heating and tile businesses
An exceptional charge was taken to the income statement of £57m to cover the previously announced closure of underperforming branches, supply chain rationalisation and central restructuring.

Peel Hunt Hold 1,470.50 1,580.00 1,580.00 Reiterates

Liberum Capital Buy 1,470.50 1,650.00 1,650.00 Reiterates

StockMarketWire.com
Travis Perkins reported that adjusted operating profit was 2.1% lower at £190m largely due to the challenging Plumbing & Heating market and recent investments, including in information systems.

HIGHLIGHTS:
- Revenue grew by 3.5% in the first half of the year, and by 2.7% on a like-for-like basis

- Free cash flow of £188m was generated, with strong cash conversion of 99% Net debt of £377m, lower than June 2016 by £133m, and in line with December 2016

- Interim dividend of 15.5p, an increase of 1.6% reflecting strong cash performance

CEO John Carter said: "We executed our plan well and delivered a solid overall performance in the first half of 2017 against a challenging market backdrop of pronounced input cost inflation and market volatility.

"The robust growth and outperformance in our Contracts and Consumer divisions build on strong customer propositions and successful investments in those businesses.

"In the first half of the year, the group made a conscious decision to recover input cost inflation selectively through disciplined pricing activity.

"Whilst this had some impact on trading volume, it enabled us to maintain Group gross margins and positions the business well for the future.

"Today we have announced a comprehensive transformation plan in our Plumbing & Heating division which is designed to stabilise performance and to create more options to maximise shareholder value.

"Whilst we remain cautious on the macro-economic outlook for the second half, the Group remains focused on executing the clear plans it has in place which will deliver strong cash generation and maximise returns."

StockMarketWire.com
Hardware group Travis Perkins said annual profits fell after higher costs offset a rise in sales.

Adjusted pre-tax profit fell 10% to £343m, as revenue grew by 3.5% to £6.43bn.

The company declared full-year dividends of 46p per share, up 2.2% on the previous year.

'2017 was a challenging year for the group, with continuing uncertainty in our end-markets, and declining consumer confidence throughout the year,' chief executive John Carter said.

'Despite the challenging environment, we have continued to make disciplined investments in our customer proposition for the long term. Both the general merchanting and consumer divisions were held back by this investment in a higher cost base, which ran ahead of volume growth.'

Turning to the outlook, Carter said the company expected that a 'mixed market' backdrop would continue in 2018.

'As a result, we will be focusing capital investment behind our key priorities, and slowing investments elsewhere,' he said.

'The group will focus heavily on maintaining tight control of the cost base and expects 2018 performance to be similar to 2017.'

sp down 8% on profit warning

Travis Perkins , Britain's biggest supplier of building materials, said its 2018 operating profit would be in the lower half of the range of analyst expectations due to weak demand in its home DIY market, sending its shares sharply lower.

Chief Executive John Carter said the group had started a deep review of its business, focusing on its cost base because of a backdrop of "changing market conditions which are expected to continue for the foreseeable future"

A general theme ongoing. Construction based stocks taking a hit.

To me it has similar price action to 2006/7

First ones to go before the malaise set in for virtually all back then.

StockMarketWire.com
Builders merchant Travis Perkins said it would attempt to sell its plumbing and heating division as part of a broader corporate restructure that would also involve slashing costs and 'maximising the value' of its Wickes DIY chain.

The company said it would target annualised cost savings of £20-30m, to be delivered over the next 18 months.

Travis Perkins had been in the process of turning around the plumbing and heating unit, which had weighed on previous earnings results.

'Following on from the success of the plumbing and heating transformation programme, the board has concluded that as part of the process of simplification, now is the time to explore the potential sale of the division,' it said.

'This will facilitate more focused management attention and capital deployment on the higher returning areas, and creates further opportunities to simplify the group and reduce costs.'

Travis Perkins said it would swing its focus behind its trades businesses. Options for its Wickes DIY unit, meanwhile, would also be considered.

'As it is a predominantly consumer focused business, the board will also look to review the options for maximising the value of Wickes in the medium term,' it said.