Newswatch: Building profits from housing.
Travis Perkins is just the kind of company that will be hit if the chancellor uses his Budget to boost the government’s countryside credentials by imposing VAT on new build housing. The company may not be a developer – its business is supplying timber, building materials and tool hire to the industry – but it will share any pain felt by its clients. With FD Paul Hampden Smith closely involved, the company has been on a buying spree over the past six months. Earlier this month Travis, the UK’s third largest builders’ merchant before it began shopping, acquired Cumbria-based builders merchant Broombys. In January it bought Allied Builders Merchants while a month before that it picked up Baseline Builders Merchants in Devon. But it was last June’s purchase of Keyline, the country’s fifth biggest merchant, that counts as the company’s most significant deal. The all cash deal valued Keyline at £181.5m. And, as a result of the purchase, Travis quickly became the second largest merchant in the UK, with combined sales last year of £932m and an estimated 11% market share. Announcing a 32% rise in pre-tax interim profits last September, company chairman Tony Travis said he was encouraged about the company’s outlook because of a rise in new housing starts. If VAT is imposed on new housing later this month, it could put paid to that.
The numbers you crunch tell a story. Your expertis...
24yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleGlobal spend on accountancy outsourcing up by 40% in the space of five years. News comes as accountancy outsourcing specialist AdvanceTrack reports en...
View articleFollowing a profitability review, Deloitte has decided to scale back its UK deals business due to lower returns. This strategic shift could lead to jo...
View articleUK-based Dow Schofield Watts (DSW), a mid-market professional services network, announced the creation of a new division called DSW Principal Partners...
View articleEY has been undergoing significant cost-cutting measures and streamlining its operations since the abandonment of Project Everest. The firm has made t...
View articleTransitioning from an accounting firm to a consultancy model is only one part of the puzzle. The next, equally vital piece is making the market aware ...
View articleThis framework, while providing a top-line view, underscores the importance of strategic vision, operational excellence, and the spirit of continuous ...
View articleLooking ahead, the Big 4 firms face a challenging year, with ongoing cost-of-living concerns, slow economic growth, rising geopolitical tensions, and ...
View articleLast month it was reported that Deloitte would be cutting approximately 1,200 jobs in the United States, making it the latest of the Big Four accounti...
View article