Cash in time for Christmas.
TP employees share in £17m pay-out from Save As You Earn
Published: 06 December, 2011
NORTHAMPTON: More than 2100 Travis Perkins employees the are to benefit from the company's record pay-out from its three-year scheme.
Employees across the Group, which owns Wickes, Tile Giant and ToolStation are this month reaping the rewards of saving in the company's Save As You Earn share schemes. Over 2100 employees, who have saved between £5 and £250 a month for the past three years, are sharing a potential £17m pay-out.
Over 400 top savers, who have contributed the maximum £250 every month for the past three years, a total of £9000 each, will receive more than £16 500 each in return for their savings.
The strong return reflects the fact that, even in difficult market conditions, Travis Perkins' performance has remained resilient, and the Group has remained an attractive option for investors.
Andy Bishop, a kitchen designer for Benchmarx Kitchens and Joinery, one of the Group's 16 businesses, invested £100 a month for three years and is delighted by the return on investment. He plans to buy shares in the company and sell some of them at a later date to fund a family holiday
Carol Kavanagh, Group TP's human resources director, commented: "The Travis Perkins Save As You Earn scheme has really delivered for thousands of employees this year. With household bills stretching personal budgets for many people, I am certain that today's returns for our employees will be a very welcome boost to income.
"It is a well deserved reward for their continued hard work and dedication to our success as a business."