Builders' Merchants News

Travis Perkins chief exec sells 50 000 shares

Published:  16 August, 2012

NORTHAMPTON: Geoff Cooper, chief executive of Travis Perkins, has sold 51 776 shares in the company  at 1091.93p – a total of £565 358. That leaves him with a beneficial interest of 132 190 shares. Finance director Paul Hampden Smith traded in 51 994 shares at 1,061.00p a week before.

Three weeks ago, the company posted a 25% rise in pre-tax profits in the first half of the year, despite construction being hampered by the wettest three months since records began.

Reported pre-tax profit after exceptional items rose to £162m for the six months ended 30 June compared to £129.2m for the same period a year earlier. Group revenue climbed 2.7% to £2.41bn and was down 0.7% on a like-for-like basis.

On the day Mr Cooper's sale was announced, the share price dropped 2.47% to 1,067p. Over the past year it has risen over 31%, equal to 256p.