Travis Perkins continues to clock a strong performance, despite the fear of multiple macro level headwinds. While the merchanting segment led the pack in FY21, Toolstation also crossed to double-digit lfl growth. The banner should continue to expand its branch network and gradually improve the financial performance (ROCE). We expect continued strength in the UK’s RMI activity during FY22. Positive stance is maintained for the stock’s valuation.
03 Mar 2022
Riding on robust RMI activity
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Riding on robust RMI activity
Travis Perkins plc (TPK:LON) | 727 54.5 1.0% | Mkt Cap: 1,545m
- Published:
03 Mar 2022 -
Author:
Nishant Choudhary -
Pages:
4
Travis Perkins continues to clock a strong performance, despite the fear of multiple macro level headwinds. While the merchanting segment led the pack in FY21, Toolstation also crossed to double-digit lfl growth. The banner should continue to expand its branch network and gradually improve the financial performance (ROCE). We expect continued strength in the UK’s RMI activity during FY22. Positive stance is maintained for the stock’s valuation.