After low-single-digit growth in 1Q, plumbing and HVAC distributor Ferguson PLC projects for the coming year accelerating M&A activity plus upbeat residential construction and renovation to offset softness in the commercial market.
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Ferguson’s U.S. region posted ongoing revenue growth of 3.2% and underlying trading profit growth of 11.3% in the first quarter of fiscal 2021.
Go behind the scenes of Ferguson and Grainger, learn what’s driving building material M&A, discover the distribution leaders of tomorrow and see what Amazon does better than anyone by checking out MDM’s most-read blogs from last month.
Plumbing and HVAC distribution giant Ferguson adds Old Dominion Supply Inc. and Atlantic Construction Fabrics Inc. to its portfolio.
Strategic activity from leading distributors like Ferguson, Grainger and Fastenal led to the most-read blogs of October 2020.
After pausing M&A activity back in March due to COVID-19, Ferguson says it has some deals in the pipeline, so it’s only a matter of time before the distributor again starts growing through acquisition.
Despite minor blip in global sales, Ferguson’s U.S. revenue grew 2.7% during the fiscal year with underlying trading profit growth of 5.2%.
Ferguson PLC on Tuesday announced the appointment of Bill Brundage as CFO and an executive director, effective November 1.
