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Travis Perkins rises on reports that work on Wickes sale is speeding up

Travis Perkins has reportedly replaced the chief executive at Wickes and is accelerating plans to sell the chain

Wickes store
The acceleration of the Wickes sales process was reported in the weekend press

Builders' merchant Travis Perkins PLC (LON:TPK) has reportedly been accelerating plans to offload its chain of Wickes do-it-yourself stores.

Shares in Travis Perkins were up 2.6% at 1,294p in early deals on the back of weekend press reports that the company has been preparing the information technology (IT) systems used by Wickes for life outside of the wider Travis Perkins IT infrastructure.

READ Travis Perkins leaps as Wickes steadies and plumbing sale gets nearer

Travis Perkins said in December that it was exploring the sale of its plumbing & heating division and the chain of Wickes stores in order to simplify its structure, reduce its costs and focus on more profitable divisions.

Quick facts: Travis Perkins

Price: 979.2 GBX

Market: LSE
Market Cap: £2.47 billion

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