The 2020 Mid-Year Economic Update_long

Ferguson’s Sales Up 9% in First Half

U.S. sales for the industrial, plumbing, and PVF distributor increased 10.6 percent to $7.9 billion.

UK-based Ferguson plc, formerly Wolseley plc, reported sales for the first half of its fiscal year ended January 31 of $10.03 billion, a 9 percent increase over the previous year. Organic growth increased 7.4 percent. Trading profit increased 14.4 percent to $698 million.

U.S. business sales were up 10.6 percent from last year, to $7.9 billion. Trading profit in the U.S. was up 15.7 percent ahead of last year, to $647 million. Nearly 2% of U.S. growth came from acquisitions. The company completed three acquisitions in the first half: supply.com, a master distributor and e-commerce company; AC Wholesalers, an online distributor of air conditioning and heating products; and Duhig Stainless, an industrial business with three locations in California.

UK sales grew 0.5 percent in the first half of the year, to $1.35 billion. Sales in Canada and Central Europe grew 9 percent, to $761 million.

 

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