Wolseley Sales Up 10.8% in 3Q - Modern Distribution Management

Wolseley Sales Up 10.8% in 3Q

U.S. sales up 14.1 percent in the third quarter.

UK-based Wolseley plc, parent company of Ferguson Enterprises, reported third quarter sales of £3.7 billion (US$5.3 billion), up 10.8 percent. On a like-for-like basis, sales were up 2.8 percent.

Trading profit for the quarter was up 17.9 percent to £230 million (US$331.5 million).

Five bolt-on acquisitions were completed in the quarter with annualized sales of £23 million (US$33.1 million). The sale of building materials activities in France was also completed in the quarter.

Fiscal year-to-date sales were £10.5 billion (US$9.8 billion), up 7.2 percent year-over-year. Trading profit increased 10 percent to £640 million (US$922.4 million).

Third quarter sales for Ferguson, Wolseley’s U.S. business, were up 14.1 percent from last year to £2.4 billion (US$3.5 billion), and 5 percent on a like-for-like basis.

Acquisitions contributed 1.8 percent of additional sales growth. Two bolt-on acquisitions were completed in the quarter with total annualized sales of £9 million (US$13 million).

Sales in Canada were up 0.1 percent compared to last year on a like-for-like basis. Two bolt-on acquisitions were completed in the quarter with total annualized revenue of £13 million (US$18.7 million).

Sales in the UK were 0.4 percent lower than the prior year on a like-for-like basis with acquisitions contributing an additional 2.8 percent.

Sales in the Nordics region were down 2.6 percent on a like-for-like basis as adverse weather conditions and the reduction of tax incentives impacted spring sales.

Central Europe
Like-for-like sales in Central Europe decreased 0.2 percent. 

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