Travis Perkins announced the disposal of its Plumbing & Heating distribution business for £325m. The divestment is in line with management’s strategy of focusing on trade customers and streamlining operations. While the sale price was ahead our NAV estimate, the cautious stock recommendation is being maintained citing sustainability concerns with respect to elevated activity in the UK residential market and the expected unwinding of government support schemes in the second half of the year.
24 May 2021
Another step to towards simplifying operations
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Another step to towards simplifying operations
Travis Perkins plc (TPK:LON) | 727 54.5 1.0% | Mkt Cap: 1,545m
- Published:
24 May 2021 -
Author:
Vansh Mehta -
Pages:
3
Travis Perkins announced the disposal of its Plumbing & Heating distribution business for £325m. The divestment is in line with management’s strategy of focusing on trade customers and streamlining operations. While the sale price was ahead our NAV estimate, the cautious stock recommendation is being maintained citing sustainability concerns with respect to elevated activity in the UK residential market and the expected unwinding of government support schemes in the second half of the year.