Travis Perkins employees enjoy Sharesave scheme
Published: 11 December, 2013
Travis Perkins’ shares have risen by 50% over the past 12 months, meaning employees who have been members of the company’s ‘Save As You Earn’ Sharesave scheme for five years could see profits in the region of £50,000, if the share price remains at its current level.
Profits from the 2008 five-year scheme, amounting to nearly £17m, are shared amongst participating employees. The scheme, launched in 2002, offers a risk-free three- or five-year savings option to its employees.
Charlie Timms, a yard supervisor at Travis Perkins Corby, has made a profit of just under £50,000 with Sharesave. He said: “It’s just a fantastic way of saving because you know the money you invest is looked after; you’re guaranteed to get back what you put in, and hopefully a bit more, so you know it won’t end in disappointment. I’ve worked for Travis Perkins for 37 years, and I’d recommend the scheme to anyone in the Group.”
Det Moser, store manager at Wickes in Plymouth, invested the maximum amount in the five-year scheme and said: “I think there’s no better way to invest, and it’s fantastic to own some of your own company. While I’d like to pay off some of my mortgage, I plan on keeping most of my shares as I think the housing market will continue to get stronger.”
David Ormond, yard sales assistant from Keyline’s Glasgow branch, has invested £140 per month into the scheme over the past five years. This £8,400 is now worth over £35,000 and represents a profit in excess of £25,000. “There’s no way you can lose with the scheme; at worst you take home all the money that you’ve put in,” he said. “Investing has been so easy – you don’t even notice the money being taken from your wages.”
Carol Kavanagh, group HR director, added: “Our employees are vital to the success of each business in the Group, and the scheme is a great way for our employees to share in the Group’s success by being rewarded for their contribution. Employees who’ve contributed £250 a month into our 2008 five-year scheme now have a total investment worth over £62,000 – at today’s share price – which is a great way to save for the future, and certainly delivers a very nice windfall for those who’ve invested in the scheme.”