Ferguson Sales Up More than 20% in 1Q; Housing Market Hits Stock
Wolseley plc, global distributor of plumbing and heating products to the contractor market and a building materials distributor, reported group revenue was up by more than 15% in the first three months of its fiscal 2007, which includes 5% organic growth. Profit was up 9%. In constant currency, revenue and profit would have been higher by 4%.
For Wolseley's North American operations ﾖ including Ferguson, Stock Building Supply and Wolseley Canada ﾖ sales in dollars were up more than 10% and profit up 5%.
Ferguson revenue and profit were both up over 20% from the prior-year period, and had double-digit organic growth.
At Stock, local currency revenue and profit were hit by ...