Wolseley Records 25% Annual Sales Growth
For the year ended July 31, 2006, UK-based Wolseley plc, global distributor of plumbing and heating products to professional contractors and a supplier of building materials and services, reported annual revenues for the group increased by more than 25% to $25.32 billion and profit rose by 24.7% to $1.57 billion. U.S. operations accounted for 59% of the revenue, and 60.8% of the trading profit.
Wolseley's North American division reported revenue of $16.1 billion, up more than 36%. Organic growth was 16.4%. Profit was up 41.5% to $1.08 billion.
Wolseley's plumbing and heating business, U.S.-based Ferguson, reported revenue of $9.65 billion, up 35.1% in dollars from the previous year. Profit, including acquisitions, was up 40.4% in dollar terms, ...