Travis Perkins clocked strong lfl revenue growth in Q3. The Merchanting business (General Merchanting, P&H and Contracts segment) was up 4.7% yoy, led by strong growth momentum in Contracts. However, the consumer business slowed due to a subdued performance in Wickes. The ongoing momentum in Merchanting is likely to last for a few more quarters, but macro-economic headwinds (tighter credit availability + negative real wages) should soften the growth gradually. No change in our stock recom
10 Jan 2018
Good Q3 results; earnings likely to soften gradually
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Good Q3 results; earnings likely to soften gradually
Travis Perkins plc (TPK:LON) | 718 21.5 0.4% | Mkt Cap: 1,525m
- Published:
10 Jan 2018 -
Author:
Nishant Choudhary -
Pages:
3
Travis Perkins clocked strong lfl revenue growth in Q3. The Merchanting business (General Merchanting, P&H and Contracts segment) was up 4.7% yoy, led by strong growth momentum in Contracts. However, the consumer business slowed due to a subdued performance in Wickes. The ongoing momentum in Merchanting is likely to last for a few more quarters, but macro-economic headwinds (tighter credit availability + negative real wages) should soften the growth gradually. No change in our stock recom