Despite a solid start to the year (7.3% lfl sales growth), Travis Perkins has left investors guessing by not upgrading its full-year guidance of stable operating profit. Management has opted to wait for at least one more quarter, considering the macro-economic uncertainties in the UK. While we have improved the FY19 top-line growth estimate (following a strong Q1 performance), this momentum is not sustainable for the rest of the year. Our stock recommendation is likely to be maintained.
09 May 2019
Strong momentum sustains in Q1
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Strong momentum sustains in Q1
Travis Perkins plc (TPK:LON) | 712 -14.3 (-0.3%) | Mkt Cap: 1,514m
- Published:
09 May 2019 -
Author:
Mohit Rathi -
Pages:
3
Despite a solid start to the year (7.3% lfl sales growth), Travis Perkins has left investors guessing by not upgrading its full-year guidance of stable operating profit. Management has opted to wait for at least one more quarter, considering the macro-economic uncertainties in the UK. While we have improved the FY19 top-line growth estimate (following a strong Q1 performance), this momentum is not sustainable for the rest of the year. Our stock recommendation is likely to be maintained.