TRAVIS PERKINS (TPK).
Investors Chronicle - magazine and web content, April, 2007
The DIY sector finally seems to have a spring in its step. According to the British Retail Consortium (BRC), the recent spate of mild weather boosted sales of outdoor DIY and garden products in March. And if the packed car parks at garden centres and DIY stores over the sunny Easter bank holiday weekend are anything to go by, April looks to have got off to a good start, too.
This bodes well for the continued recovery of Wickes, acquired by Travis Perkins in February 2005. That was just before the housing market wobbled, triggering a downturn in home improvement spending. So Wickes' like-for-like sales dropped 3 per cent in 2006 and its operating margin fell by 1.5 percentage points to 5.9 per cent. But Travis Perkins said in March that trading conditions were...
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