Travis Perkins to sell plumbing and heating division, could even take out its DIY wing

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.