This site is under development and will be the new home of Wolseley plc, the world’s leading specialist distributor of plumbing and heating products, when we change our name to Ferguson plc on 31 July 2017. Please come back then and visit us then. In the mean time, please visit our current live site below for further information Thank you.www.wolseley.com
|$m1||H1 2018||H1 20172||Growth||Growth
(at constant exchange rates)
|Trading profit||Ongoing businesses||698||607||+15.0%||+14.4%|
|Statutory profit before tax||598||556|
|Headline earnings per share||202.1c||173.3c||+16.6%||+15.8%|
|Discontinued profit / (loss) after tax||18||(127)|
|Interim dividend per share3||57.4c||52.1c||+10%|
John Martin, Chief Executive, commented:
“The Group delivered a strong trading performance in the first half driven by good growth and margin progression in the USA where we continued to grow well across all geographic regions and business units.
“US residential markets are growing well, commercial market growth is good and industrial markets have recovered. Canadian markets are healthy, though UK markets are challenging. Group organic revenue growth since the end of January has continued in line with growth in the second quarter, though comparators get progressively tougher through the second half. The Group is confident of achieving trading profit in line with analyst expectations for the full year.”
“Following receipt of competition clearance, we expect to complete the sale of Stark Group at the end of March. Subject to completion, we are pleased to propose a special dividend of $1 billion, with an accompanying share consolidation. The balance sheet remains strong and the Group will continue to target net debt in the range of 1x to 2x EBITDA, consistent with investment grade credit metrics.
For further information please contact
Mike Powell, Group Chief Financial Officer
Tel: +41 (0) 41723 2230
Mark Fearon, Director of Corporate Communications and IR
Mobile: +44 (0) 7711 875070
Mike Ward, Head of Corporate Communications
Mobile: +44 (0)7894 417060
Nina Coad, Tim Danaher (Brunswick)
Tel: +44 (0)20 7404 5959
There will be an analyst and investor presentation at 0830 (UK time) today at the London Stock Exchange, 10 Paternoster Square, London EC4M 7LS. A live video webcast and slide presentation of this event will be available on www.fergusonplc.com. We recommend you register at 0815 (UK time). Photographs are available at www.fergusonplc.com.