Travis Perkins plc - Big increase in underlying revenues in Q1

Davy Research
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Travis Perkins is on the cusp of a seismic change, with the demerger of Wickes confirmed for April 28th. Shareholders will then have separate investments in trade-focused (the legacy Travis Perkins) and consumer/DIY-focused (Wickes) public companies. For Travis Perkins, this will mark a very important step in the execution of its strategy to simplify the group structure and focus on the core trade sector. All this is happening at a time when the group is enjoying good trading. It reported a substantial increase in Q1 underlying revenues across all its operations, led by the buoyant residential RMI sector, with the suggestion that March was especially strong.