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Travis Perkins suffers following investment

Travis Perkins suffers following investment

Statutory numbers from Travis Perkins (TPK) suggest the builders merchant had a stellar year in 2017. But impairments taken against the plumbing and heating businesses the year before actually made for a very low comparable. On an adjusted basis the picture is less flattering, with operating profits falling 7.1 per cent to £380m. This prompted a share price drop on results day, dragging the shares down to a 12-month low.

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