IN BRIEF: Travis Perkins sells Staircraft business for PS24 million

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Travis Perkins PLC - Northampton, England-based builders’ merchant - Sells specialist floor kit, i-joist and staircase manufacturer Staircraft to Gait Consulting, which is majority owned by the founder of Staircraft, for £24 million. Travis Perkins Chief Financial Officer Duncan Cooper says: ‘The sale of Staircraft is another step towards simplifying the group’s operating model with a clear focus on being the UK’s leading distributor of building materials. The proceeds will be used to strengthen the group’s balance sheet and will support our disciplined approach to reinvesting in our core assets. I would like to thank all colleagues in Staircraft for their contribution as part of the group and wish them all the best for the future as an independent business.’

Current stock price: 569.21 pence each, up 1.8% on Thursday morning in London

12-month change: down 26%

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