Business
Capital Markets Day
Capital Markets Day.
About this update from Travis Perkins Plc
[{"type":"text","content":"\n \nRNS Number : 5463U Travis Perkins PLC 03 December 2013 \n \n\n3 December 2013\nTravis Perkins plc\n \nCapital markets day - 3 December 2013\n \nTravis Perkins is hosting a capital markets day for institutional investors and investment research analysts from 12.30pm today in London.\nThe event will comprise presentations from the new Chief Executive1, John Carter, and the Finance Director, Tony Buffin, covering the strategic ambitions of the Group and plans for the businesses within the Group. Key aspects of these plans include:\n· accelerating innovation of customer propositions\n· expanding the network and intensifying use of space\n· exploiting scale benefits\n· prioritising investments throughout the portfolio.\nThe table below summarises key ambitions and dividend guidance that will be set out during the afternoon:\n\n\n\n\nAmbition\n\n\nMedium term\n\n\n\n\nLike-for-like sales growth outperformance across the Group\n\n\n1% - 3% \n\n\n\n\n\n\n\n\n\n\n\n\nOperating margin improvement prospects\n\n\n\n\n\n\n\n- General Merchanting\n\n\nsustain sector leading\n\n\n\n\n- Plumbing & Heating\n\n\ngood growth\n\n\n\n\n- Contracts\n\n\ngood growth\n\n\n\n\n- Consumer\n\n\ngood growth\n\n\n\n\n\n\n\n\n\n\n\n\nEBITA growth p.a. over the medium term\n\n\ndouble digit\n\n\n\n\n\n\n\n\n\n\n\n\n2014-15 annual capital expenditure\n\n\n£130 - 170 million\n\n\n\n\n\n\n\n\n\n\n\n\nLease adjusted ROCE\n\n\nadd 200 - 300 basis points\n\n\n\n\n\n\n\n\n\n\n\n\nFixed charge cover\n\n\n3.5x\n\n\n\n\n\n\n\n\n\n\n\n\nProgressive dividend with cover range for 2014 onwards\n\n\n2.5x - 3.25x\n\n\n\n\n\n\n\n\n\n\n\n\nJohn Carter commented: \"We have worked very hard over the past few years to ensure we have the right portfolio of businesses to continue to outperform the market. Our businesses have good plans in place and we are investing to further extend our market leading customer propositions. This gives the board and executive team confidence in setting out these ambitions for the Group. Our focus now, as ever, remains on delivering strong and consistent growth in shareholder returns.\"\nThe event will not be webcast and there will be no discussion on current trading conditions. The presentation material and...