Travis Perkins Share Discussion Threads

[maywillow] 05/9/2005 08:31

Travis Perkins' Worsening Trend Accelerates

Monday, September 05, 2005 3:51:54 AM ET
Dow Jones Newswires



0742 GMT [Dow Jones] Travis Perkins (TPK.LN) "1H results are disappointing with pretax coming in at GBP110M against consensus of GBP114M," says trader. "More importantly, the group talks of tough trading for the rest of the year." Like-for-like sales in Wickes over the summer -7.4% compared with a 4.9% decline in 1H, "so the trend is accelerating." Trades -3.3% at 1,507p. (SMT)

[danny murphy] 04/9/2005 19:06

TPK now has momentum down to 1300p???

[ariane] 27/8/2005 05:45

Homes need £48bn in repairs
Michael Clarke, This is Money
27 August 2005
HOMES in England are in urgent need of £48bn worth of repairs and improvements, with a third of properties failing to meet basic standards.


Around 6.7m homes are classed as 'non-decent' according to a recent survey of property condition, with 5m of those not even meeting basic standards of 'decent accommodation.


The English Homes Condition Survey assesses the state of repair of properties, looking at the condition of walls, roofs, windows, doors, chimneys, electrics and heating systems.


While the condition of homes has improved since the last survey four years ago, the private housing stock has improved at a slower rate than the social sector.


The main reason homes were deemed not to meet basic standards was because of the standard of heating they provided, with 23% of properties not having adequate heating systems, rising to 73% among homes which were declared non-decent.


Other problems included the state of repair, statutory fitness and the availability of modern facilities.


Overall, it is estimated that it would cost £48 billion to bring all properties in England up to basic standards, the equivalent of £7,200 per home.


According to the Halifax, only £17bn is spent on repairing and maintaining property a year. Tim Crawford, Halifax group economist, said: 'It is clear from the House Condition Survey results that there is a significant proportion of the private housing stock that is in a state of disrepair which creates a stark contrast with the picture of a nation of home improvers.


'The majority of the homes that don't meet decency standards are actually owner-occupied, highlighting the importance of helping these homeowners find affordable ways to make the repairs and improvements necessary.'


The average household currently spends £1,685 on its property annually, accounting for just over 5% of total expenditure.

[madgooner] 23/8/2005 10:46

Maybe even a long from here?

Wash my mouth out...

bsl consensus 11 times earnings then 10

What The Brokers Say
Strong Buy 6
Buy 1
Neutral 4
Sell 0
Strong Sell 0
Total 11

[mickconn11] 22/8/2005 19:14

No position as from last week.
Results on the 5th Sept.

[madgooner] 22/8/2005 09:23

LONDON (AFX) - Builders merchants Gibbs & Dandy PLC said it expects pretax
profit for the full year 2005 to come in about 10-15 pct lower than last year
based on what the company called "an economically slower environment sales".
In reporting its interim results for the half year to June 30 it said pretax
profit is up 1.5 pct to 2.41 mln compared with 2.38 mln last year on a turnover
of 27.86 mln stg 2.1 pct down on last year's 28.45 mln.
Chairman Christopher Roshier said: "On the assumptions that the reduction in
sales that we have seen compared with 2004 continues throughout the second half
of the year, and that Timber Force breaks even over the remainder of the year,
we anticipate that our profit before tax for 2005 will be in the region of 10
pct to 15 pct lower than our record profit last year."
[e-mail]

[kellydog2] 18/8/2005 08:10

anyone know how to find out the share holder perks from travis perkins
i need to have a lot of work done at home and will be spending a few bob at our local travis perkins and am sure i read once they do a good discount for share holders
thank you in advance
kellydog

[hyper al] 16/8/2005 18:49

My local wicks store lacks staff and that's without redundancies?

[mickconn11] 16/8/2005 18:38

They've been laying off people ever since TPK bought them.

[canford cliffs] 16/8/2005 14:20

has anybody heard any rumours that there will be a massive round of redundancies at Wicks?

[mickconn11] 08/8/2005 18:32

Another leg down. ...:???

[mickconn11] 02/8/2005 19:14

ML upgraded to buy but downgraded earnings but in my opinion still too high.

For the ammount they're paid they really ought to read the Wickes offer document.

[madgooner] 15/7/2005 16:33

Still tough out there I think...

LONDON (AFX) - Sellers demolished Baggeridge Brick, 28-1/2 pence down at 154
- a near 16 pct decline - after the company warned today that its profits for
the year will be significantly below current market forecasts.
Arbuthnot Securities analyst Stephen Rawlinson had been forecasting 7 mln
stg pretax for the year to September 2005.
In a trading statement, the group said consumer confidence remains uncertain
and it joined other housebuilders in recognising the slowdown in the UK housing
market.
In addition, energy costs have continued to escalate and are now a major
cause of concern for the entire ceramics industry.

[mr_chaps] 07/7/2005 10:21

bought some of these at the beginning of the week, do you think they have much further to go - wondering about topping up, but keep remembering the falling knife scenario?

[mickconn11] 05/7/2005 18:16

I thought it might bounce a bit as well but drifting down all day so I sold a few more just before close. Analyst visit today and no positive reaction.

[handycam] 04/7/2005 15:28

Bounce at 1600ish, one might argue. (Technically speaking).

[ariane] 04/7/2005 09:22

Wickes weakness hits Travis Perkins
Robert Lea, Evening Standard
4 July 2005
THE British consumer has pulled the plug on new bathrooms and kitchens, as DIY retailer Wickes - bought by builders' merchant Travis Perkins in a £950m deal in February - admitted sales are plunging.

In a half-year trading statement, Travis Perkins said the acquisition of Wickes had pulled down its own underlying sales, after the DIY chain reported an 8.4% like-for-like collapse in sales from its showrooms.

'The home-delivered showroom market continues to be soft as consumers rein back expenditure on larger-ticket items,' Travis Perkins said. Its shares have fallen 10% since the acquisition of Wickes and the group today warned the City its profit forecast of around £258m for the full year are now too optimistic.

'We expect the trading environment for the remainder of 2005 to continue to be challenging,' said the company. 'Whilst we have taken prompt action to reduce costs, this will not fully offset the impact of the current trading environment.'

Trading from all Wickes outlets is down 4.9% for the first half of the year, against the 2.7% year-on-year fall last reported at the end of April.

That has hit the whole group, with like-for-like trading this year down by 0.5%. Underlying trading at Travis Perkins outlets is up 1.6%, though that is weaker than the 2.4% reported two months ago. At its City Plumbing showrooms, trading is down 4.1%.

[ariane] 04/7/2005 08:42

Travis Shares Drop Most in Five Years as Same-Store Sales Fall
July 4 (Bloomberg) -- Shares of Travis Perkins Plc, the U.K. builders' merchant that's expanding into home improvement, fell the most in five years after the cost of borrowing prompted homeowners to delay renovation projects, hurting sales.

Revenue from stores open at least a year fell 0.5 percent, Travis said in a statement today, led by a 4.9 percent decline at the Wickes do-it-yourself chain, bought for 950 million pounds ($1.67 billion) in February. The stock fell as much as 6.5 percent.

Travis, which bought Wickes to target the 17 billion-pound home-improvement market, has been hurt as the highest interest rates in 3 1/2 years prompt Britons to curb spending on new kitchens, bathrooms and home extensions. The company, which has 957 U.K. outlets, had previously targeted professional builders.

``The nearer you get to the consumer, the more difficult life gets,'' Chief Executive Geoff Cooper said in an interview. ``I don't see any quick recovery.'' Northampton, central England- based Travis said it's ``moderated'' its earnings targets.

Shares of the company fell as much as 115 pence to 1,662 pence, the sharpest decline since Jan. 21, 2000, and were trading at 1,670 pence as of 8:29 a.m. in London. The stock has slipped 3.5 percent so far this year, cutting Travis's market value to 2.04 billion pounds.

``I don't think this is the right time to be buying into the Travis Perkins story,'' said Rachael Waring, an analyst at Numis Securities in Liverpool, northwest England, who has a ``hold'' recommendation on the stock. ``They'll find life tough for the rest of the year.''

Demand from builders for Travis's heating and plumbing products also slowed, the company said. Cooper, 51, said he expects markets to be ``challenging'' for the rest of the year.

First-quarter profit at Kingfisher Plc, the world's No. 3 home-improvement retailer, fell 16 percent as demand faltered at the company's B&Q chain in the U.K. The stock had today slipped 1.75 pence to 248.5 pence.

[ariane] 04/7/2005 06:43

LONDON (AFX) - Travis Perkins PLC, the builders' merchant and DIY retailer,
said trading is set to remain challenging for the rest of 2005 and it has
therefore "moderated" its expectations for the year.
In a trading statement, Travis Perkins said group turnover for the first six
months, including the effect of the February acquisition of Wickes, was up by 41
pct, but on a like-for-like basis sales were 0.5 pct lower.
The group said progress on the integration of Wickes is proceeding ahead of
schedule.
At Wickes, total sales for the 26-week period to June 26 were down by 1.7
pct, and 4.9 pct lower on a like-for-like basis, Travis Perkins said.
Home delivered showroom sales, which account for around 16 pct of Wickes
total turnover, fell by 8.4 pct like-for-like as consumers reined in their
spending.
Travis Perkins said although the DIY market is showing signs of recovery,
this improvement has been patchy and slower than expected.
[e-mail]
ak/cw

[waldron] 04/7/2005 06:06

RNS Number:4042O
Travis Perkins PLC
04 July 2005

4 July 2005

Travis Perkins PLC

Interim pre-close Trading Statement

Travis Perkins PLC, the leading UK builders' merchant and DIY retailer, today
issued the following trading statement for the first six months of 2005:

Overall group turnover for the first six months, including the effect of the
acquisition of Wickes, was up by 41%, with like-for-like ("LFL") turnover per
trading day (i.e. after adjusting for one extra trading day in 2004) lower by
0.5%. Progress on combining the Travis Perkins and Wickes businesses is running
ahead of expectations.

In the Travis Perkins builders' merchant business (65% of total merchanting
turnover) for the first six months of 2005, total turnover per trading day was
up by 6.2% with LFL turnover per trading day up by 1.6%. In this period, our
specialist merchanting businesses (35% of total merchanting turnover),
comprising Keyline, CCF and City Plumbing, saw total turnover per trading day
lower by 1.3%, and LFL turnover per trading day lower by 4.1%, reflecting mainly
weaker showroom sales in City Plumbing.

The sharp slowdown in consumer spending from February has had some impact on
volumes in the trade market, particularly in RMI, in the second quarter. The
more consumer-related RMI activity, especially in plumbing and heating, was
affected, although our business in commercial sectors and sectors related to
government spending remained robust.

The group has taken further action in merchanting to boost productivity - up by
2% in the first half - and gain market share, while protecting gross margins -
slightly up in the first half. Buying benefits and other synergy gains from the
work to integrate Wickes into the group are running ahead of the group's
original expectations despite lower base volumes. Synergy projects outside the
buying area are now being accelerated to produce further cost reductions.

The group's earlier prediction for a gradual recovery in the DIY market has been
borne out by experience in the second quarter, although the improvement has been
patchy and slower than anticipated.

At Wickes, which was acquired by the group on 11 February 2005, total turnover
for the 26 week period to 26 June 2005 was down by 1.7%, with LFL turnover down
by 4.9%. LFL turnover of core products (84% of Wickes' sales) were down by 4.2%.
The LFL performance, whilst showing monthly variations, continues to indicate an
improved trend from the weakest position experienced, in February 2005, and
latest data available shows Wickes gaining market share from national
competitors. The home delivered showroom market, which accounts for around 16%
of Wickes' sales, continues to be soft as consumers rein back expenditure on '
larger ticket' items. Turnover in this category was off 8.4% on an LFL basis for
the 26 week period.

Since the start of 2005, the group has added a net 34 new branches in addition
to 172 acquired Wickes stores. The group now has 957 trading locations in the
UK.

While continuing to invest steadily in the growth of both the merchanting and
retail businesses, group net borrowings are running slightly lower than planned
levels due to tight control of working capital and capital expenditure.

We expect the trading environment for the remainder of 2005 to continue to be
challenging. Whilst we have taken prompt action to reduce costs this will not
fully offset the impact of the current trading environment, and our expectations
have been moderated accordingly. However, we expect to grow profits in
merchanting in 2005 as well as add profits and synergies from the acquisition of
Wickes.

Enquiries:

Geoff Cooper, Chief Executive
Paul Hampden Smith, Finance Director
Travis Perkins PLC [phone]

David Bick/Trevor Phillips
Holborn Public Relations [phone]

ends

This information is provided by RNS
The company news service from the London Stock Exchange
END

TSTBXLLBEDBFBBB

[ariane] 03/7/2005 06:44

Travis Perkins


THE nearer you get to the consumer the tougher business is. That's likely to be the message tomorrow from Travis Perkins, the £2.1 billion builders merchant, when it gives a pre-close trading statement. Travis, through its ownership of Wickes, is not immune to the high-street chill. But it is not as exposed as a pure DIY operator like B&Q, and Travis's core heavyside business, which services the jobbing builder, is holding up well.

Trading in the first half of the year has been tough and if it continues, the group will miss full-year profit forecasts of £260m, but only by a whisker. Investors will be encouraged by an update on the £35m of savings being made from the Wickes deal. These are running slightly ahead of expectation and other areas to save costs have been identified. The shares have fallen 10% since February, which is in line with its peers. If interest rates are cut, this will boost the housing and DIY market.

[mickconn11] 07/6/2005 17:43

Long term the Wickes purchase could be a master stroke but for the next few years I'm not so sure.

[madgooner] 06/6/2005 19:51

Steering clear personally for now. Equal possibility of strong move in either direction. Better opps elsewhere.

jeff thinks each co.lives in a discreet world, unimpacted by wider markets, but occasionally offers decent thoughts ;-)

[mickconn11] 06/6/2005 19:47

1700 becoming important. It's played around here a bit the past six months.

[jeffian] 22/5/2005 15:21

....though whether all this adds to our knowledge of whether adding a retail side to their trade arm is a good thing for TPK remains a moot point. He always did like to go off on a tangent, that Madgooner.

8-)

Regards, Ian