Ferguson Reports Overall Revenue Growth of 13 Percent
Parent company Wolseley plc reports first-half earnings for fiscal year 2015
NEWPORT NEWS, Va.— Ferguson’s parent company Wolseley plc, the world’s largest distributor of plumbing and heating products to professional contractors, announced its financial results for the first half of the 2015 fiscal year.
Ferguson reported overall growth of 13 percent, increasing its revenue 11.7 percent on a like-for-like basis, which measures growth of Ferguson’s existing stores or branches that have been open for at least one year. Like-for-like growth was up from 6 percent for the same time period last year and 8 percent at 2014 fiscal year end. Acquisitions contributed 3 percent of additional revenue growth. Ferguson’s trading margin reached a record high of 7.9 percent, up from 7.7 percent at 2014 fiscal year end. Trading profit was 21.9 percent ahead of last year.