Travis Perkins, Britain’s largest building materials group, plans to sell its plumbing and heating division, and said it could divest its Wickes home improvement chain in the future. According to a Reuters story, the group, which operates over 20 brands, said in a strategy update that it would simplify its structure and streamline its cost base, concentrate more on its trade businesses, and improve the performance of consumer-focused Wickes.
Travis Perkins, whose shares have fallen 30 percent so far this year, is targeting further annualised cost savings of 20-30 million pounds, delivered over the next 18 months.