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
Ferguson plc notes the enactment of the Tax Cuts and Jobs Act in the US. This gives rise to a beneficial impact on the Group’s after tax earnings, principally due to the reduction of the US federal corporate income tax rate, effective 1 January 2018.
We estimate a Group effective tax rate of approximately 25% for the current financial year ending 31 July 2018, a reduction from previous guidance of 28%.
On an ongoing basis we expect the Group’s effective tax rate to be in the range 21% to 22%.
Cash tax payable in each year is expected to reduce broadly in line with the income statement reductions. There will be no material one-off charges or credits as a result of the change in tax rate.
For further information please contact
Mike Powell, Group Chief Financial Officer
+41 (0) 41 723 2230
Nick Hopkins, Investor Relations Manager
+44 (0) 7775 612159
Mike Ward, Head of Corporate Communications Mobile
+44 (0) 7894 417060
Nina Coad (Brunswick)
+44 (0) 20 7404 5959