Margins for error

The phrase: "turnover is vanity, profit is sanity" has been trotted out so much over the years I've been in this business that it's become a cliché. But, like all clichés, it's become one simply because it is true.

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A buyer’s market?

So we finally know the price that Travis Perkins has put upon the BSS business. £557m is a lot of money. But then they are buying a lot of business. It represents an uplift of 37% on the share price the day before the announcement was made which is a pretty good deal in my…

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So here we are again. Just nine months after the country ground to a halt because of the appalling snowfall in February the country is now 'whited-out' as one particularly enthusiastic local TV news reporter said last night.

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