March 28 Heating and plumbing products supplier
Wolseley reported a 25 percent rise in first-half
profit, as growth in the United States more than made up for
tough trading conditions in the UK and the Nordics.
The company plans to change its name to Ferguson Plc,
subject to shareholder approval, its top brand in its largest
market, the United States, where it makes about 84 percent of
Group trading profit rose to 515 million pounds ($646
million) in the six months ended Jan. 31, from 412 million
pounds a year ago.
Revenue rose 24.5 percent to 8.461 billion pounds, while
like-for-like revenue grew 3.2 percent year-on-year, and
Wolseley said like-for-like revenue had grown about 4.5 percent
since the end of the period.
($1 = 0.7974 pounds)
(Reporting by Esha Vaish in Bengaluru, editing by Louise