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Chief Executive at Builders Merchant Comments on Spending Cuts

The chief executive of Travis Perkins, Geoff Cooper, has commented this week that the upcoming spending cuts about to be announced by the government could actually be a positive thing for the retail sector. Travis Perkins, which also owns Wickes, has experienced flat growth for the Wickes part of the business and 7% growth across the Travis Perkins side of the business.

It is thought that increased activity among house-builders was to blame for this. Shares in the company have also increased.

Mr Cooper has suggested that people are currently feeling very uncertain about what the impact of the spending cuts may have on them. Once it has been announced, he feels people will be able to get on with their lives.

Travis Perkins has also agreed to buy rival firm BSS for £557m, which should be cleared by the Office of Fair Trading next week.