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UK-based Ferguson plc, formerly Wolseley plc, reported sales for the first quarter ended October 31 of $5.2 billion, a 10 percent increase over the previous year. Organic growth increased 7.6 percent. Trading profit increased 13.9 percent to $394 million.
The sale of Nordic building materials business agreed to on November 10 for €1 billion (US$1.2 billion) is on track to complete in early 2018. Five acquisitions were completed in the quarter for a total consideration of $109 million.
U.S. business sales were up 10.3 percent from last year to $4.1 billion for the quarter on an actual basis and up 8.3 percent on a like-for-like basis. Trading profit in the U.S. was up 14.2 percent to $363 million.
Sales in the UK grew 3.2 percent from last year on a like-for-like basis. On an actual basis, sales were up 3.4 percent to $679 million.
Like-for-like sales in Canada and Central Europe increased 7.7 percent from last year. On an actual basis, sales were up 9.2 percent to $400 million.