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Travis Perkins pauses divestment in difficult markets

The group is planning to offload its plumbing and heating business
Travis Perkins pauses divestment in difficult markets

Travis Perkins (TPK) is in the midst of a simplification process, as management looks to retool the building product group to focus on its trade businesses. To accomplish this, the group is looking to demerge its Wickes business, and is due to publish a prospectus later this month, with the process expected to complete in the three months to June. It is also looking to divest its plumbing and heating business, having already sold Primaflow, the division's wholesale operation, in January. However, the sale of the wider division has been put on hold due to the political and economic uncertainty in the UK.

IC TIP: Hold at 1,473p

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