Travis Perkins booming

SHARES in Wickes owner Travis Perkins soared as signs of a turnaround at the group emerged.

Sales at the builders’ merchant jumped 4.8pc to £6.7bn in the year to December 31. Shares jumped 12.5pc to 1429p.

However, Travis Perkins swung to a £49m loss from a £290m profit a year earlier after forking out £246m in one-off costs which related to a restructuring overhaul.

It has been struggling amid a DIY market downturn, as fewer people move house. The company also owns a number of plumbing and heating businesses and building merchants’ brands.