Newport News, Va. — Ferguson’s parent company Wolseley plc, an international distributor of plumbing and heating products to professional contractors, announced its financial results for the first half of the 2017 fiscal year alongside a name change and the upcoming retirement of CEO Frank Roach.
Ferguson reported a 9.9 percent sales growth, increasing its revenue 5.4 percent on a like-for-like basis, which measures the growth of Ferguson’s existing stores or branches open for at least one year. Acquisitions contributed 2.5 percent of additional revenue growth, with remaining growth from new locations and two additional sales days this year. The company’s trading margin was 7.8 percent, and trading profit was 9.1 percent ahead of last year.