Wolseley Sales Up 5.3% in Fiscal 1Q - Modern Distribution Management

Log In

Wolseley Sales Up 5.3% in Fiscal 1Q

Group sales growth led by 6.9 percent revenue increase in the U.S.

European distributor Wolseley plc reported sales for the fiscal first quarter ended Oct. 31 of £3.6 billion (US$5.5 billion), up 5.3 percent over the same period a year ago. Trading profit grew 6 percent to £250 million (US$377.8 million).

"In the U.S. we achieved good growth in decent commercial and residential markets, partly offset by weaker industrial markets, which account for about 15 percent of U.S. revenue," said Wolseley Chief Executive Ian Meakins. "We achieved good growth in the Nordics as the steady recovery of construction markets continued, though revenue declined in the UK where the markets remained challenging."

Ferguson, Wolseley's U.S. business, reported first-quarter sales of £2.3 billion (US$3.5 billion), up 6.9 percent over a year ago. On a like-for-like basis, sales grew 4.5 percent. Trading profit increased 12.6 percent to £196 million (US$296.2 million).

In Canada, sales fell 8.8 percent to £182 million (US$275 million). Like-for-like revenue in Canada was down 3.7 percent. Trading profit declined 18.2 percent to £13 million (US$19.6 million).

In the UK, sales were down 20.8 percent to £510 million (US$770.7 million). Like-for-like revenue decreased 1.1 percent. Repairs, maintenance and improvement markets remained weak. The acquisitions made last year contributed a further 4 percent to revenue growth. Trading profit for the period declined 20.8 percent to £19 million (US$28.7 million).

In the Nordic region, sales grew 4.8 percent to £503 million (US$760.1 million), and like-for-like revenue grew 5.5 percent, with growth in each country. Trading profit improved by £1 million (US$1.5 million).

In Central Europe and France, sales increased 4.2 percent to £105 million (US$158.7 million) and like-for-like revenue declined 1.2 percent. Trading profit increased 12.5 percent to £9 million (US$13.6 million).

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.