DOCSLIB.ORG

Travis Perkins Plc

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Travis Perkins Plc TRAVIS PERKINS PLC Travis Perkins The largest supplier of building materials in the UK ANNUAL REPORT AND ACCOUNTS 2012 TRAVIS PERKINS PLC General Consumer Specialist Plumbing Merchanting Division Merchanting and Heating Division Division Division Tile Giant Travis Perkins Benchmarx Birchwood Price Tools Toolstation Midlands CCF BSS and North West Wickes Travis Perkins Keyline City Heating Spares Northern City Plumbing Travis Perkins Connections South East DHS Travis Perkins South West and Wales F&P Wholesale PTS This document is important and requires your immediate attention. If you are in any doubt as to what action you should take, you are recommended to seek your own financial advice from your stockbroker or other independent adviser authorised under the Financial Services and Markets Act 2000. If you have sold or transferred all of your shares in Travis Perkins plc, please forward this document, together with the accompanying documents, as soon as possible either to the purchaser or transferee or to the person who arranged the sale or transfer so they can pass these documents to the person who now holds the shares. TRAVIS PERKINS ANNUAL REPORT AND ACCOUNTS 2012 Contents Overview Reports Governance Financial Statements 2 18 54 Financial Highlights Chairman’s Statement Directors 82 2 20 56 Income Statements Operating Highlights Chief Executive’s Corporate 83 3 Review of the Year Responsibility Statement Statements of Financial Summary 30 56 Comprehensive Income Deputy Chief Executive’s Committees and 84 5 Review of the Year Professional Advisers Key Performance Balance Sheets Indicators 38 57 86 Finance Director’s Corporate Governance Consolidated Statement 6 Review of the Year Our Group Mission, 61 of Changes in Equity Vision and Values 44 Audit Committee Report 87 Statement of Principal Statement of 7 Risks and Uncertainties 64 Who we are Directors’ Changes in Equity 46 Remuneration Report 88 12 Environmental Report Cash Flow Statements Our Investment Case 75 50 Nominations 89 14 Health & Safety Report Committee Report Notes to the Our Strategy 76 Financial Statements 15 Directors’ Report 130 Delivering our Strategy 80 Five Year Record 17 Statement of Directors’ Responsibilities Our Business Model Shareholder 81 Independent Information Auditor’s Report 132 Notice of Annual General Meeting 134 Notes to Notice of Annual General Meeting 136 Directions to Annual General Meeting 137 Other Shareholder Information Forward looking statements The review of the businesses contained in the annual report and accounts contains forward looking statements with respect to the financial condition, results, operations and business of the Travis Perkins plc group. These statements and forecasts include risk and uncertainty because they relate to events and depend on circumstances that occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by the forward statements. 1 Financial Operating Highlights Highlights Group revenue up 1.4% Increased BSS synergy at £4,845m, down 1.4% target achieved and on a like-for-like basis integration programme near completion Adjusted operating profit, up 4.3% to £327m, Toolstation network adjusted PBT up 1.1% to expansion to 123 £300m, and adjusted EPS branches and Toolstation up 2.1% to 95.1p Europe trial launched Sustained adjusted Gross margin operating margin at 6.7% before synergies increased by 0.2% Reported PBT after exceptional items up Tight cost control, like-for- 16.2% to £313m like overheads down 2.3% Free cash flow Solfex systems acquired generated of £242m on 30 January 2013 for initial consideration Underlying £155m debt of £8m reduction, net debt down to £452m, and financing ratios further improved Full year dividend of 25p per share up 25%, with adjusted dividend cover now 3.8 times 2 TRAVIS PERKINS ANNUAL REPORT AND ACCOUNTS 2012 Financial Summary 2012 2011 OVERVIEW £m % £m Revenue 4,844.9 1.4 4,779.1 Adjusted:* Note Operating profit 5a 326.6 4.3 313.2 Profit before taxation 5b 299.9 1.1 296.7 Profit after taxation 5b 226.8 3.6 219.0 Adjusted earnings per ordinary share (pence) 11b 95.1 2.1 93.1 Statutory: Operating profit 300.5 3.4 290.5 Profit before taxation 313.3 16.2 269.6 Profit after taxation 259.6 22.2 212.4 Basic earnings per ordinary share (pence) 108.9 20.6 90.3 Total dividend declared per ordinary share (pence) 12 25.0p 25.0 20.0p * Throughout this Annual Report the term ‘adjusted’ has been used to signify that the effects of the exceptional items, amortisation of intangible assets and the associated tax impacts have been excluded from the disclosure being made. 3 Gareth Hurst, Driver and Trevor Horwood, Branch Supervisor at Travis Perkins Managed4 Services, Aylesbury TRAVIS PERKINS ANNUAL REPORT AND ACCOUNTS 2012 Key Performance Indicators Adjusted earnings per share (pence) Adjusted profit before taxation (£m) 2012 Like-for-like 2011 sales growth (%) OVERVIEW Revenue 2011 2012 (£m) 2010 2011 2011 2012 2010 2010 2010 2012 Employee retention (%) Net debt to EBITDA Free cash flow (£m) 2011 2010 2012 Adjusted pre-tax return on capital (%) 2010 2011 2010 2010 2011 2012 2012 2011 2012 5 Our Group Mission, Vision and Values Our Group Mission Our Group Values ‘Continue to deliver better At Travis Perkins, we: returns by... putting in place and growing the best businesses, with Know our customers – we understand their needs, beat their expectations, outstanding people and operations, treat them with respect, and know our major customers personally. providing comprehensive building material solutions, to everyone Talk and listen – we say what we mean clearly and honestly, we listen creating, maintaining, repairing or carefully; we respond objectively, we explain our decisions. improving the built environment,… helping to build Britain’. Are with you, not against you – we seek mutual benefits with all stake- holders; we think about the impact of our actions; we search for similarities. Our Group Vision Know how to do our jobs – not just today, but for the next job; we equip ourselves with the skills needed to perform and be confident we can perform. To ensure that anyone in Britain who wants to access any kind of Like to deliver – we enjoy being the best; we know exactly what each of us building materials through any is expected to achieve; we focus on getting results, simply. form of supply channel will have a Travis Perkins group operation as Work together – we actively work with each other; when something goes their first or first alternative choice. wrong, the first thing we will do is fix the problem; not look for someone to blame. Always try to get better – we constructively challenge how we work; we look for fresh ideas that are different; we only have rules where they are necessary because we use our common sense. Are proud to be here – this is a great company; everyone working with us is welcome; we make work enjoyable for everyone. 6 TRAVIS PERKINS ANNUAL REPORT AND ACCOUNTS 2012 Who we are TRAVIS PERKINS PLC OVERVIEW Travis Perkins plc, is the UK’s The origins of Sandell Perkins largest supplier to the building and can be traced back over 200 years construction market, one of the most to 1797 when a carpentry company economically significant activities was first established in London; in the UK. Travis and Arnold was initially The present day Company was formed as a partnership in 1899. formed in 1988 out of a merger During the early to mid 20th Norman Bell Carol Kavanagh Group Development Group Human between Travis and Arnold plc, a century both businesses expanded Director Resources Director company with strong Midlands before eventually becoming listed and Northern based business, and public companies, Travis and Sandell Perkins plc, a company with Arnold was the first to the market an equivalent strength in the South in 1964, followed 22 years later by of England. Sandell Perkins. Martin Meech Andrew Pike Group Property Company Secretary Director and General Counsel Robin Proctor Jean-Jacques Supply Chain Van Oosten Director Chief Informatioin Officer Group reorganisation On 1 January 2012 we reorganised the business into four divisions, General Merchanting, Specialist Merchanting, Consumer and Plumbing & Heating. It is on the new divisional structure described in this section that we have prepared the Annual Report. 7 GENERAL MERCHANTING DIVISION Our general merchanting division, network expansion, entry into new trades nationally through the Travis market segments and exploitation Perkins brand and comprises four of multi channel opportunities. geographically organised individual The Best Practice programme is businesses. It has 636 branches, designed to enhance our overall supplying building materials to service to trade customers and professional building companies, covers all of their key requirements: Kevin Appleton Phil Gransden Divisional Chairman MD South East contractors and tradesmen even though all four general throughout Great Britain. merchanting businesses are already Kevin Appleton, who joined the operating to high standards in Group in 2011, leads the General these areas they have stretching Merchanting business in his role as targets in place to deliver further Divisional Chairman. The Managing improvements. Directors of the four businesses Network expansion will be are Kieran Griffin (Travis Perkins concentrated on identifying prime Midlands and the North West), Phil locations through brownfield Kieran Griffin David Kelman MD Midlands and MD North Gransden (Travis Perkins South openings and small acquisitions. North West East), David Kelman (Travis Perkins In addition, store projects and North) and Mark Nottingham framework agreements will continue (Travis Perkins South West and to be expanded with Local Authorities Wales). The customers of the four and Housing Associations. general merchanting businesses are primarily professional tradesmen, ranging from sole traders to national housebuilders, whose key Mark Nottingham MD South West requirements are product range and and Wales availability, competitive pricing and customer service.
Load more

Recommended publications
  • Parker Review
    Ethnic Diversity Enriching Business Leadership An update report from The Parker Review Sir John Parker The Parker Review Committee 5 February 2020 Principal Sponsor Members of the Steering Committee Chair: Sir John Parker GBE, FREng Co-Chair: David Tyler Contents Members: Dr Doyin Atewologun Sanjay Bhandari Helen Mahy CBE Foreword by Sir John Parker 2 Sir Kenneth Olisa OBE Foreword by the Secretary of State 6 Trevor Phillips OBE Message from EY 8 Tom Shropshire Vision and Mission Statement 10 Yvonne Thompson CBE Professor Susan Vinnicombe CBE Current Profile of FTSE 350 Boards 14 Matthew Percival FRC/Cranfield Research on Ethnic Diversity Reporting 36 Arun Batra OBE Parker Review Recommendations 58 Bilal Raja Kirstie Wright Company Success Stories 62 Closing Word from Sir Jon Thompson 65 Observers Biographies 66 Sanu de Lima, Itiola Durojaiye, Katie Leinweber Appendix — The Directors’ Resource Toolkit 72 Department for Business, Energy & Industrial Strategy Thanks to our contributors during the year and to this report Oliver Cover Alex Diggins Neil Golborne Orla Pettigrew Sonam Patel Zaheer Ahmad MBE Rachel Sadka Simon Feeke Key advisors and contributors to this report: Simon Manterfield Dr Manjari Prashar Dr Fatima Tresh Latika Shah ® At the heart of our success lies the performance 2. Recognising the changes and growing talent of our many great companies, many of them listed pool of ethnically diverse candidates in our in the FTSE 100 and FTSE 250. There is no doubt home and overseas markets which will influence that one reason we have been able to punch recruitment patterns for years to come above our weight as a medium-sized country is the talent and inventiveness of our business leaders Whilst we have made great strides in bringing and our skilled people.
    [Show full text]
  • Building Products SECTOR INSIGHT//BUILDING PRODUCTS
    SECTOR INSIGHT Building Products SECTOR INSIGHT//BUILDING PRODUCTS Contents p2 Building products overview p4 M&A Review p6 Deciphering the UK housing sector conundrum p9 Deal insight, opening doors pg10 Our expertise DEALS DONE RIGHT. LIVINGSTONEPARTNERS.COM BUILDING PRODUCTS OVERVIEW The construction sector has proved to be relatively resilient since Brexit, bringing welcome relief to those who had concerns about the sector’s ability to weather the uncertainty that followed last June’s historic decision to leave the EU. Future sector development activity will be The leading UK key builders’ merchanting recently downgraded its 2018 forecast spearheaded by a considerable increase groups have also benefitted from the for the sector from 1.2% to 0.7%, the in infrastructure spending, underpinned benign outlook, with their average EV / slowest rate of growth in six years, citing by a long term national infrastructure EBITDA multiples rising by almost 50% a combination of a softening economy and construction pipeline valued at over since the EU referendum. Several, such as and rising costs. This follows on from £500bn – over two-thirds of which is Grafton and Wolesely, are seeking to drive the PMI Index hitting an 11 month low of allocated to 219 major projects in the growth internationally whilst the likes of SIG 5.9% in July, driven by a combination of Energy and Transport sectors. Included and Travis Perkins continue to realign their lower commerical building volumes and in this are transformative projects such extensive portfolio of businesses. heightened macro-uncertainty delaying as Hinkley Point C, HS2 and the Thames projects. Tideway Tunnel, which will provide a It is not all plain sailing, with inflation significant fillip to a vast array of suppliers rearing its head at a faster rate recently.
    [Show full text]
  • The State of Sustainability Assurance in the FTSE 350
    The state of sustainability assurance in the FTSE 350 Welcome to the 4th smart assurance index Carbon Smart is pleased to present the results of its 4th report edition revealing the state of sustainability assurance in the FTSE 350, celebrating those companies who demonstrate commitment to transparency and accuracy in sustainability reporting by committing resources to robust third party assurance. Less than 25% of the FTSE 350 have their sustainability data assured but with legislation coming into effect in September 2013 requiring all listed companies to declare their carbon emissions, the reporting landscape is altering. The ever increasing scrutiny being placed on company reporting processes only makes this research more important. We hope the smart assurance index will guide companies to avoid the pitfalls and extract maximum business value from their sustainability reporting. Managing Director, Carbon Smart “At British American Tobacco we feel assurance is essential for building credibility and trust with stakeholders as well as driving continual improvements internally. We are committed to leading developments to the practice, through sponsoring Carbon Smart’s research to improve standards in this area”. “The non-financial reporting landscape is evolving with greater requirements on companies to provide robust, transparent and auditable data. Greenstone is committed to streamlining data management and ensuring greater confidence when reporting, enabling companies to focus on analysing the results and achieving real business benefits”. 1. Introduction This year for the first time we have included a As sustainability reporting matures, driven by section on carbon intensity. We looked at the government regulation, public demand and sustainability reports of the 64 companies in company values, the need for credible the FTSE 350 that have their carbon footprint reported information becomes critical.
    [Show full text]
  • Morning Wrap
    Morning Wrap Today ’s Newsflow Equity Research 12 Apr 2021 08:21 BST Upcoming Events Select headline to navigate to article Hammerson Retail Parks disposal progress confirmed Company Events 13-Apr Givaudan; Q121 Results Irish Housebuilders Strong outlook from Irish 14-Apr easyJet; Q221 Trading Update construction PMI as sector reopens Hammerson; Shareholder Engagement Session Tesco; FY21 Results Irish Banks Easing of some Covid-restrictions today; 15-Apr Entain; Q121 Trading Update Travis Perkins; Q121 Trading Update sovereign bond holdings Economic Events Ireland 15-Apr Trade Balance Feb21 United Kingdom 13-Apr BRC Retail Sales Mar21 Construction Output Feb21 GDP Feb21 Industrial Production Feb21 Manufacturing Production Feb21 Trade Balance Feb21 United States Europe This document is intended for the sole use of Goodbody Investment Banking and its affiliates Goodbody Capital Markets Equity Research +353 1 6419221 Equity Sales +353 1 6670222 Bloomberg GDSE<GO> Goodbody Stockbrokers UC, trading as “Goodbody”, is regulated by the Central Bank of Ireland. In the UK, Goodbody is authorised and subject to limited regulation by the Financial Conduct Authority. Goodbody is a member of Euronext Dublin and the London Stock Exchange. Goodbody is a member of the FEXCO group of companies. For the attention of US clients of Goodbody Securities Inc, this third-party research report has been produced by our affiliate, Goodbody Stockbrokers Goodbody Morning Wrap Hammerson Retail Parks disposal progress confirmed As had been expected now for a number of weeks, though we lacked an amount, Recommendation: Hold Hammerson (HMSO:LN) are understood to have agreed to sell the UK retail parks portfolio Closing Price: £0.37 (which had a book value £384m at the end of FY20) to Canadian investor Brookfield for in the region of £350m.
    [Show full text]
  • Underthebonnet
    JOHCM UK DYNAMIC FUND UNDER THE BONNET 2019 ANNUAL REVIEW Alex Savvides, Senior Fund Manager Tom Matthews, Analyst INVESTMENT BACKGROUND Global equity markets continued to move higher in December as economic indicators showed a pick-up in global growth, there was further progress in US-China trade discussions and the UK’s Conservative party won an overall majority in the general election. The JP Morgan Global Composite PMI ticked up from the previous month’s 44-month low following a steepening in China’s composite PMI growth rate and a strengthening in US business activity. US equities had a remarkable year, capped by President Trump announcing he would sign a phase one trade deal with China in January and move to negotiations on phase two. The S&P 500, Dow Jones Industrial Average and NASDAQ 100 total return indices all reached new all-time highs in December, with gains of 32%, 25% and 40% respectively for the year. We wrote the following in August’s ‘Under the Bonnet’: “When we come to reflect on 2019, July will likely be seen as a decisive… a month in which geopolitical brinkmanship came to a head, leading government and central bank policies to be reappraised which ultimately may lead to a new market narrative.” The progress in the US-China trade deal marked a clear de-escalation in this brinkmanship globally, but starker still were the final quarter’s developments in the UK: a new withdrawal agreement negotiated with the EU and - in December alone - the Conservative Party winning an historic majority in the general election and the withdrawal agreement subsequently being passed by parliament more than 13 months after Theresa May’s cabinet first backed her deal.
    [Show full text]
  • P.65 2020 Annual Report
    Annual Report and Accounts 2020 Travis Perkins plc Perkins Travis Annual Report and Accounts 2020 Accounts and Report Annual Building for the future Getting the fundamentals right The Covid-19 pandemic has acted as a catalyst for change in our business and has provided the opportunity to accelerate some of our strategic initiatives to strengthen the core of the business and position us well for the future. The impact of the pandemic meant that our 2020 financial performance was lower than in 2019, but we have demonstrated great resilience. Getting it right for our: Colleagues, customers, suppliers and shareholders Customers - see page 16 Strategy - see page 18 Suppliers - see page 65 Colleagues - see page 66 Strategic report Governance Financial statements Other information www.travisperkins.co.uk www.toolstation.com www.benchmarxkitchens.co.uk www.bssindustrial.co.uk www.ccfltd.co.uk www.keyline.co.uk www.wickes.co.uk www.cityplumbing.co.uk www.theunderfloorheatingstore.com Travis Perkins plc Annual Report and Accounts 2020 1 What’s in our report Strategic report 3 Governance 75 Financial statements 121 Other information 189 Strategic report Governance 3 Financial performance 76 Board of Directors 4 At a glance 78 Chairman’s introduction 6 Chairman’s statement 79 Corporate governance report 8 Chief Executive’s report 84 Nominations Committee report 12 Investment case 87 Audit Committee report 14 Market dynamics 93 Directors’ Remuneration report 16 Business model 97 Remuneration Policy report 18 Our ambition & strategy 105 Annual Remuneration
    [Show full text]
  • Class-1-Circular.Pdf
    DOCUMENT AND ANY ACCOMPANYING DOCUMENTS ARE IMPORTANT AND REQUIRE YOUR IMMEDIATE ATTENTION. If you are in any doubt as to the action you should take, you are recommended to seek your own financial advice immediately and should consult your stockbroker, bank manager, solicitor, accountant or other appropriate professional independent adviser authorised under the Financial Services and Markets Act 2000 (“FSMA”) immediately, if you are in the United Kingdom, or from another appropriately authorised independent professional adviser, if you are taking advice in a territory outside the United Kingdom. If you sell or transfer or have sold or otherwise transferred all of your Travis Perkins Shares, please send this document, together with the other accompanying documents, at once to the purchaser or transferee, or to the stockbroker, bank or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee. However, such documents should not be forwarded, distributed or transmitted in or into any jurisdiction in which such act would constitute a violation of the relevant laws in such jurisdiction. If you have sold part of your holding of shares in Travis Perkins plc (“Travis Perkins” or the “Company”), please retain this document and the other accompanying documents and contact immediately the bank, stockbroker or other agent through whom the sale or transfer was effected. Travis Perkins plc (Incorporated in England and Wales with registered number 824821) Proposed demerger of the Wickes Group from the Travis Perkins Group and the Travis Perkins Share Consolidation Circular to Shareholders and Notice of General Meeting This document should be read as a whole.
    [Show full text]
  • Remuneration Policy 2014
    BERKELEY ANNUAL REPORT 2014 / GOVERNANCE GOVERNANCE DIRECTORS’ REMUNERATION POLICY This section of the Remuneration Report contains details of the Company’s Directors’ Remuneration Policy that will govern the Company’s future remuneration payments. The policy described in this part is intended to apply for three years and will be applicable from the Company’s AGM in September 2014 subject to approval by shareholders at the AGM. The policy part will be displayed on the Company’s website, in the investor relations area, immediately after the 2014 AGM. The Committee has established the policy on the remuneration of the Executive Directors; the Board has established a policy on the remuneration of the Non-executive Directors. REMUNERATION POLICY The objective of Berkeley’s remuneration policy is to encourage, reward and retain the current Executives and ensure their actions are aligned with the Company’s strategy. The core philosophies of the policy are: • Fixed remuneration: The Committee sets salaries for the Executive Directors based on their experience, role, individual and corporate performance. Salaries on appointment to the Board are set at a lower quartile level of the comparator group which, based on appropriate levels of individual and corporate performance, will be increased with experience gained over time. • Annual performance related pay: The Committee believes that shareholders’ interests are best served by remuneration packages that have a large emphasis on performance-related pay which encourage the Executive Directors to focus on delivering the business strategy. • Long-term sustainable performance: The long-term incentives which extend to 2021 have been designed to lock in the Executive team for a far longer period than is typical in most publicly listed companies.
    [Show full text]
  • FTSE Russell Publications
    2 FTSE Russell Publications 19 August 2021 FTSE 250 Indicative Index Weight Data as at Closing on 30 June 2021 Index weight Index weight Index weight Constituent Country Constituent Country Constituent Country (%) (%) (%) 3i Infrastructure 0.43 UNITED Bytes Technology Group 0.23 UNITED Edinburgh Investment Trust 0.25 UNITED KINGDOM KINGDOM KINGDOM 4imprint Group 0.18 UNITED C&C Group 0.23 UNITED Edinburgh Worldwide Inv Tst 0.35 UNITED KINGDOM KINGDOM KINGDOM 888 Holdings 0.25 UNITED Cairn Energy 0.17 UNITED Electrocomponents 1.18 UNITED KINGDOM KINGDOM KINGDOM Aberforth Smaller Companies Tst 0.33 UNITED Caledonia Investments 0.25 UNITED Elementis 0.21 UNITED KINGDOM KINGDOM KINGDOM Aggreko 0.51 UNITED Capita 0.15 UNITED Energean 0.21 UNITED KINGDOM KINGDOM KINGDOM Airtel Africa 0.19 UNITED Capital & Counties Properties 0.29 UNITED Essentra 0.23 UNITED KINGDOM KINGDOM KINGDOM AJ Bell 0.31 UNITED Carnival 0.54 UNITED Euromoney Institutional Investor 0.26 UNITED KINGDOM KINGDOM KINGDOM Alliance Trust 0.77 UNITED Centamin 0.27 UNITED European Opportunities Trust 0.19 UNITED KINGDOM KINGDOM KINGDOM Allianz Technology Trust 0.31 UNITED Centrica 0.74 UNITED F&C Investment Trust 1.1 UNITED KINGDOM KINGDOM KINGDOM AO World 0.18 UNITED Chemring Group 0.2 UNITED FDM Group Holdings 0.21 UNITED KINGDOM KINGDOM KINGDOM Apax Global Alpha 0.17 UNITED Chrysalis Investments 0.33 UNITED Ferrexpo 0.3 UNITED KINGDOM KINGDOM KINGDOM Ascential 0.4 UNITED Cineworld Group 0.19 UNITED Fidelity China Special Situations 0.35 UNITED KINGDOM KINGDOM KINGDOM Ashmore
    [Show full text]
  • Interims Press Release
    Tuesday 26 February 2013 Redrow plc Interim results for the six months to 31 December 2012 STRONG PERFORMANCE IN A CHALLENGING MARKET Financial Results H1 2013 H1 2012 Revenue £257.0m £232.8m Pre-exceptional Operating Profit £26.2m £17.4m Profit before tax £23.0m £15.3m EPS (adjusted) 4.8p 3.7p Legal Completions (homes) 1,202 1,168 Private Average Selling Price £224,000 £204,000 Net Debt £65.2m £98.8m Gearing 11% 21% NAV per share £1.56 £1.46 ROCE 8.6% 6.4% Financial highlights Revenues rose 10% to £257.0m driven by a 10% increase in private average selling price to £224,000 Gross margin increased to 18% (2012: 15.4%) as a result of increased sales from sites purchased since 2009, and improved product mix Profit before tax up 50% to £23.0m (2012: £15.3m) EPS (adjusted) increased 30% to 4.8 pence (2012: 3.7 pence) Net debt increased to £65.2m (June 2012: £14m), giving gearing of 11% (June 2012: 2%) Volume of private net reservations up 24% Return on capital employed increased to 8.6% (2012: 6.4%) Operational highlights The New Heritage Collection comprised 87% of private turnover (2012: 60%) Average number of outlets increased to 83 (2012: 72) and expected to rise to 90 by end of June 2013 London region is making good progress and has now acquired a total of 700 plots with a gross development value of £450m. Current land bank at the end of December 2012 was 13,295 plots (June 2012: 12,356 plots).
    [Show full text]
  • The Housing Market: a Temporary Lull the UK FOREST MARKET REPORT 2019
    The UK Forest Market Report The Housing Market: A Temporary Lull THE UK FOREST MARKET REPORT 2019 The Housing Market: A Temporary Lull The health of the UK’s housing market is an important bellwether for the strength of demand for sawmills’ finished product, sawn wood. The UNECE’s Timber Market Statement for the UK has consistently emphasised this fact. In 2017, it noted that “the construction industry plays a vital role in driving sawn softwood consumption.” Its 2018 report reiterated the point, stating: “Demand within the construction industry remains a large influence on the timber market within the UK.” The mechanics of the timber supply rates in the aftermath of the Financial to over £9bn. Meantime, expenditure on chain neatly illustrate the logic. Activity Crisis, from 6% in late-2007 to 0.5% repairing and improving the UK’s existing levels among joiners, builders, roofing in March 2009, triggered a powerful housing stock rose 50% from £5bn to specialists, landscapers etc depend upsurge in the UK’s housing market. By £7.5bn. heavily on the volume of construction reducing mortgage rates and raising the projects, both on new houses and on affordability of a new home, it propelled However, with higher interest rates lifting the maintenance and improvement of house prices upwards. Rising property mortgage costs through summer 2018, existing homes. These trades comprise prices then provided a powerful incentive homebuyers’ ability to afford ever-higher the core customer base of builders’ both for house builders to develop their prices was undermined. As a result, merchants, such as Travis Perkins, vacant land sites and for homeowners to through autumn 2018, clouds started to Buildbase and Jewsons, who themselves repair, improve or expand their homes.
    [Show full text]
  • July 2019 GPC Transactions
    Date of Transaction Net VAT Total Beneficiary Cost Code Description 03/07/2019 £67.80 £0.00 £67.80 South Eastern BUILDING CONTROL 09/07/2019 £74.00 £0.00 £74.00 Travelodge HOMELESSNESS 04/07/2019 £71.35 £0.00 £71.35 Park Central Hotel DIRECTOR OF ENV & CORP ASSETS 04/07/2019 £33.00 £0.00 £33.00 Park Central Hotel DIRECTOR OF ENV & CORP ASSETS 22/07/2019 £22.40 £0.00 £22.40 South Eastern Trains DIRECTOR OF ENV & CORP ASSETS 03/07/2019 £199.99 £0.00 £199.99 Amazon.co.uk DOVER MUSEUM 03/07/2019 £1.90 £0.00 £1.90 Amazon co.uk DOVER MUSEUM 03/07/2019 £2.10 £0.00 £2.10 Amazon.co.uk DOVER MUSEUM 08/07/2019 £66.00 £13.20 £79.20 Safe and Secure DOVER MUSEUM 08/07/2019 £34.04 £0.00 £34.04 B & Q DOVER MUSEUM 08/07/2019 £130.00 £0.00 £130.00 Amazon.co.uk DOVER MUSEUM 15/07/2019 £81.67 £16.33 £98.00 Halfords DOVER MUSEUM 23/07/2019 £30.11 £0.00 £30.11 B & Q DOVER MUSEUM 30/07/2019 £59.99 £0.00 £59.99 Wildy & Sons Ltd LEGAL TRADING ACCOUNT 10/07/2019 £37.50 £7.50 £45.00 Mobile Phone Mechanic Dover PROPERTY SERVICES 16/07/2019 £21.90 £4.38 £26.28 Safe & Secure OFFICE ACCOMMODATION-WHITFIELD 19/07/2019 £168.95 £33.79 £202.74 Test Meter PROPERTY SERVICES 31/07/2019 £275.00 £0.00 £275.00 CABE PROPERTY SERVICES 02/08/2019 £5.00 £1.00 £6.00 Cut Plastic Sheeting DEAL PIER 08/07/2019 £2.50 £0.50 £3.00 PHONEANDPAY LEGAL TRADING ACCOUNT 23/07/2019 £7.68 £1.92 £9.60 Canterbury Parking LEGAL TRADING ACCOUNT 30/07/2019 £2.50 £0.50 £3.00 PHONEANDPAY LEGAL TRADING ACCOUNT 12/07/2019 £57.00 £0.00 £57.00 Gatwick Parking OPEN GOLF EVENT 15/07/2019 £24.65 £0.00 £24.65
    [Show full text]