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Travis Perkins - Builders merchant enjoys favourable conditions in construction

April 2002

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Travis Perkins, the builders merchants, have announced better than expected results, with pretax profit increasing 23% to Â£120m, on a 8% rise in sales to Â£1.28 billion. Earnings were 76.6p. TravisPerkins is the third largest supplier of timber, building, plumbingmaterials and heating equipment, predominantly to trade customers,such as jobbing builders. The group now has 502 branches, givingit a 13% share of the market and it boldly claims to be able topush this to 18% in the medium term, partly through acquiring bolt-onacquisitions of small independents. This would underwrite itstarget to continue growing earnings at a 10% annual clip. Broker,HSBC, has slightly upgraded earnings forecasts to ...

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