Travis Perkins extends share buyback programme by £70m

Travis Perkins said on Tuesday that it was extending its share buyback programme by £70m.

The builders’ merchant will extend its initial £100m share buyback programme and this will also be returned through a buyback of Travis Perkins ordinary shares.

The company said it will update shareholders on its capital return programme at the full-year results in March next year and "remains committed to returning to shareholders the net proceeds from the disposal of its plumbing & heating distribution business".

Since the start of the initial period of the buyback programme on 1 October, the group has bought back just over 3.8m ordinary shares for around £58m.