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There wasn't a lot that could have gone wrong for a company like Travis Perkins that didn't last year. Aside from economic uncertainty and weak consumer confidence limiting purchases of kitchens and bathrooms at its Wickes branches, the weather was awful and inflation, generally good news for such retailers, subdued. This year the construction market is expected to grow by one or two percentage points. There may also be some upside if the weather is not quite as bad. The biggest boost would be a rise in the level of transactions in the housing market. Some such rise has indeed been manifest for the past three months. This will, however, take six months or so to feed through into purchases of basic building materials and new kitchens and bathrooms.
The company said it has continued with tight cost control, with lfl overheads down 2.3%. It reported an underlying £155m debt reduction, with net debt down to £452m. "A gradual recovery in our markets, together with targeted like-for-like volume outperformance and tight control of costs should deliver an expansion of our operating margins," Cooper added. "The group has an excellent track record of deploying self-help initiatives to achieve these goals, and our position as the UK's leader in building materials strengthens our position and prospects."
Building materials group Travis Perkins boosted annual revenue and profit, despite continued headwinds in construction markets, and underlined its confidence in future trading by lifting its dividend payment by a quarter. Pre-tax profit rose 16.2% to £313.3m for the year ended December 31st 2012 while group revenue climbed 1.4% to £4.84bn during the period. On a like-for-like basis revenue was down 1.4%. The Northampton based builders' merchant said a full year dividend of 25p has been offered, up 25% from last time. Adjusted operating margins have remained at 6.7%. Chief Executive Geoff Cooper commented: "Whilst there are indications, for the first time in a while, that growth will return to our markets later this year, we anticipate volatile conditions will persist in the short term, further troubling weaker operators." However despite continued tough conditions in construction markets, Travis Perkins said it has made good progress with strong cash generation and development of its networks and services in the UK and the launch of a small scale trial in continental Europe.
Travis Perkins noted that Solfex generated a cumulative annual revenue growth rate of 179% over the past three years. In December 2012 it was listed as the UK's fifth fastest growing private company in the Sunday Times Virgin Fast Track 100.
Building materials group Travis Perkins has bought renewable energy firm, Solfex Energy Systems, for eight million pounds. The firm said that Solflex, which focuses on solar thermal and photovoltaic products, would be a valuable addition to its plumbing and heating division. "Our strategy of offering our customers an integrated approach to energy efficient building will be greatly enhanced by the market leading proposition created by the Solfex team," said Chief Executive Geoff Cooper. In its last financial year, Solfex reported revenues of £21.9m and an operating profit of £2.2m. The initial cash payment of £8m for the firm would be supplemented by further amounts dependent on performance.
Travis Perkins: Seymour Pierce increases target price from 1150p to 1350p and leaves its buy recommendation unchanged. Panmure Gordon takes target price from 1200p to 1350p maintaining a buy rating.
big half page spread about this comp on p84.............
Dont think they will get much higher just now due to big dillution some years ago, will watch carfully next week and maybe set a sell limit on some for about £13.00 and buy back later.
Yes sure was, nice million pound buy after hours. Guess says something when a bank feel will get better return from travis, than their own bank lol.
Thanks for that, and yet another good day.
maybe because lloyds bought over two million shares and took threshold over seven per cent of company,tends to install confidence in a company. regards .
Cannot find any reason for 2 good rises on consecutive days,any ideas ???
Joe Mescall, the Divisional Chairman of General Merchanting at Travis Perkins, sold 14,854 shares post-exercise, one day before the company warned that market headwinds have continued, although assured investors the outlook for the year as a whole remains unchanged. Mescall sold the shares at 1,098p each for a total of £163,097. The Northampton based builders merchant said on Wednesday that like-for-like sales fell 1.8% for the 11 months to the end of November 2012 while total sales for the period increased 1.6%. "This period included two more trading days in our merchanting and plumbing and heating divisions than for the comparable period in 2011," the group explained in a statement. It added that its specialist merchanting division has seen a small positive impact from the closure of a competitor. Like-for-like sales at merchanting rose 1.6%. Looking ahead Travis Perkins said: "These trends mean that our outlook for the year as a whole remains unchanged from that stated in our October interim management statement."
These trends mean that our outlook for the year as a whole remains unchanged from that stated in our October Interim Management Statement. We remain on target to meet consensus earnings per share and are on track to achieve our net debt target of approximately £450m at the year end. Our next update will be the release of our 2012 preliminary results on Wednesday 20 February 2013.
Travis Perkins plc Trading Update - Trading in Line with Expectations Travis Perkins, the largest supplier of building materials in the UK, today issues this trading update for the 11 months to the end of November 2012. Group turnover for the eleven months to the end of November was up 1.6%. This period included two more trading days in our merchanting and plumbing and heating divisions than for the comparable period in 2011. In trading conditions that remain difficult, like-for-like sales trends for the Group are similar to those reported in October, with year-to-date like-for-like sales slightly lower at -1.8%, although our specialist Merchanting division has seen a small positive impact from the closure of a competitor.
Joe Mescall, the Divisional Chairman of General Merchanting at Travis Perkins, sold 14,854 shares post-exercise, one day before the company warned that market headwinds have continued, although assured investors the outlook for the year as a whole remains unchanged. Mescall sold the shares at 1,098p each for a total of £163,097. The Northampton based builders merchant said on Wednesday that like-for-like sales fell 1.8% for the 11 months to the end of November 2012 while total sales for the period increased 1.6%.
Travis Perkins Sell 21-Nov-12 £111,521.00 Paul N Hampden Smith 10,000 @ 1,115.21p Travis Perkins Sell 21-Nov-12 £111,400.00 Paul N Hampden Smith 10,000 @ 1,114.00p Travis Perkins Sell 21-Nov-12 £56,205.00 Paul N Hampden Smith 5,000 @ 1,124.10p Travis Perkins Sell 21-Nov-12 £56,153.50 Paul N Hampden Smith 5,000 @ 1,123.07p
Travis Perkins Sell 21-Nov-12 £168,481.49 Paul N Hampden Smith 15,000 @ 1,123.21p Travis Perkins Sell 21-Nov-12 £112,400.00 Paul N Hampden Smith 10,000 @ 1,124.00p Travis Perkins Sell 21-Nov-12 £111,700.00 Paul N Hampden Smith 10,000 @ 1,117.00p
Building materials supplier Travis Perkins has found a replacement for the role of Group Finance Director following the announcement of Paul Hampden Smith's retirement. Tony Buffin will join the company at some point during the second quarter of 2013, with Hampden Smith staying on until September 2013 to ensure a proper handover. The company has described Buffin as having an "exceptionally strong track record in financial management, corporate finance and in creating and executing organic growth strategies" and said it "believes it is fortunate to have secured the services of such a strong candidate". Tony joins from Coles Group, an Australian retail business with AU$32bn turnover, where he has been Chief Financial Officer since July 2009 and where he is responsible for finance, property, IT, strategy and financial services. Prior to joining Coles, Tony held a number of senior finance and general management roles including, financial controller of the Boots Group and CFO and Chief Executive Officer of the international business of Aimia, a loyalty management company. Robert Walker, Chairman of Travis Perkins, said: "It was important that we replaced Paul Hampden Smith with the right candidate and the board believes that it has achieved this with the appointment of Tony, whose track record speaks for itself. We believe he will become an important addition to our senior executive team."
Travis Perkins: Panmure Gordon keeps buy rating and 1,200p target.
Paul Hampden Smith, who has been the Finance Director at Travis Perkins since 1996, has reduced his stake in the building materials supplier following the announcement of his retirement plans last Friday. The sales, which were announced after the close on Friday, were made between October 16th and 17th over eight separate transactions, of which six related directly to shares belonging to his wife, Sarah Hampden Smith. Altogether 68,800 shares were sold for an average price of 1,109.09p for a total of £763,054.
Top Director Buys Travis Perkins (TPK) Director name: Ms Ruth Anderson Amount purchased: 1,000 @ 1,122.00p Value: £11,220
TRAVIS PERKINS DIPS A BIT Builders' merchant Travis Perkins (ISE: TPK.L) has had a good year so far, but its share price turned tail and fell 32 pence (3%) to 1,103 pence on the day it released a Q3 interim statement that told us trading was in line with expectations. Perhaps, after a 30% gain on the year so far, the punters were expecting more. Or it might be disappointment that financial director Paul Hampden Smith is to stand down after 17 years in the job, also announced today. See the complete article here: http://www.dailyfinance.com/2012/10/12/3-ftse-shares-plunging-today/ P.S. Here's some links about SCLP, one of the hottest stocks at the moment: http://www.euroinvestor.com/community/discussionthread.aspx?iid=2467508&threadid=256596&mode=2 http://www.euroinvestor.com/community/discussionthread.aspx?iid=2467508&threadid=255276&mode=2 http://www.euroinvestor.com/community/discussionthread.aspx?iid=2467508&threadid=257550&mode=2