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Travis Perkins decides to demerge Wickes

Travis Perkins retail group will demerge Wickes to shareholders as a standalone business.

Travis Perkins retail group will demerge Wickes to shareholders as a standalone business.

Another change has been announced in the British DIY market. Wickes, the number two in the market, is to be separated off from the Travis Perkins retail group. In its half-year report, it is stated that the board has decided to demerge Wickes to shareholders as a standalone business. The company intends to focus on advantaged trade businesses and the simplification of the group. Rumours to this effect had already surfaced in the British press in July.

The retail division of Travis Perkins, which operates the Tile Giant distribution channel in addition to Wickes, reported sales of GBP 695 mio (EUR 754 mio) in the first six months of 2019, equivalent to sales growth of 8.9 per cent. Wickes' like-for-like sales growth was 9.7 per cent.

Wickes has 241 stores in Great Britain, 125 of which have now been converted to a new format.

Travis Perkins continues to report high growth rates for the Toolstation distribution channel. Sales in the first six months increased by 23.1 per cent to GBP 208 mio (EUR 226 mio) and by 17.3 per cent in like-for-like terms. There were 21 new openings in these six months to the middle of the year, bringing the number of outlets to 365. 13 openings on the European mainland brought the total number there to 53 stores, including the first pilot store in Belgium. The new branches in the Netherlands are performing strongly, according to the half-year report, while the branch trial in France "continues to perform well".

|14 August 2019 | 09:26

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