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.

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.