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India

Ferguson PLC (FERG.L)

FERG.L on London Stock Exchange

5,888.00GBp
19 Jul 2019
Change (% chg)

84.00 (+1.45%)
Prev Close
5,804.00
Open
5,820.00
Day's High
5,888.00
Day's Low
5,818.00
Volume
305,769
Avg. Vol
666,464
52-wk High
6,601.91
52-wk Low
4,594.00

Latest Key Developments (Source: Significant Developments)

Nelson Peltz's Trian Fund Takes 5.98% Interest In Ferguson
Thursday, 13 Jun 2019 

June 13 (Reuters) - Trian Investors 1 Ltd ::STATEMENT RE INVESTMENT IN FERGUSON PLC.FUNDS MANAGED BY TRIAN FUND MANAGEMENT, OTHERS ACQUIRED 5.98% INTEREST IN FERGUSON AS OF JUNE 12, 2019, VALUED AT ABOUT GBP 736 MILLION.TRIAN BELIEVES THAT FERGUSON IS AN ATTRACTIVE BUSINESS THAT TRADES AT A DISCOUNT TO COMPARABLE U.S. PEERS.CONTACTED MEMBERS OF FERGUSON'S MANAGEMENT TEAM.LOOKS FORWARD TO WORKING WITH FEERGUSON TO EXPLORE INITIATIVES THAT IT BELIEVES CAN CREATE "LONG-TERM SHAREHOLDER VALUE".ADVISED FERGUSON IT CURRENTLY EXPECTS TO UTILIZE A CURRENCY HEDGE TO OFFSET A PORTION OF FERGUSON'S U.S. DOLLAR EXPOSURE.  Full Article

Ferguson Appoints Geoff Drabble Chairman Designate
Wednesday, 22 May 2019 

May 22 (Reuters) - Ferguson PLC ::APPOINTMENT OF CHAIRMAN DESIGNATE AND NED.GEOFF DRABBLE HAS BEEN APPOINTED AS A NON EXECUTIVE DIRECTOR AND WILL SUCCEED GARETH DAVIS AS CHAIRMAN.GARETH WILL STEP DOWN AS A DIRECTOR IN JANUARY 2020 TO ENSURE AN ORDERLY HANDOVER OF RESPONSIBILITIES.GEOFF JOINS FERGUSON FOLLOWING A 12-YEAR PERIOD AS CHIEF EXECUTIVE OF ASHTEAD.  Full Article

Ferguson Sees FY Trading Profit To Be At Lower End Of Analysts' Expectation Range
Tuesday, 26 Mar 2019 

March 26 (Reuters) - Ferguson Plc ::RESULTS FOR THE HALF YEAR ENDED 31 JANUARY 2019.INTERIM DIVIDEND OF 63.1C UP 10.0%.EXPECT TRADING PROFIT FOR FULL YEAR TO BE TOWARDS LOWER END OF RANGE OF ANALYSTS' EXPECTATIONS.HY STATUTORY REVENUE OF $10,847 MILLION (2018: $10,027 MILLION).HY ONGOING REVENUE OF $10,666 MILLION (2018: $9,865 MILLION).HY ONGOING TRADING PROFIT $744 MILLION VERSUS $691 MILLION.DISPOSED OF DUTCH PLUMBING AND HEATING BUSINESS ON 30 JANUARY 2019 FOR CONSIDERATION OF $111 MILLION.HY STATUTORY PROFIT FOR PERIOD ATTRIBUTABLE TO SHAREHOLDERS $586 MILLION VERSUS $458 MILLION."GROWTH RATE HAS MODERATED RECENTLY IN LINE WITH CONDITIONS IN MARKETS".EXPECT TO GENERATE FURTHER REVENUE GROWTH IN SECOND HALF, HAVE REVISED ESTIMATES OF GROUP ORGANIC REVENUE GROWTH TO BETWEEN 3-5%.AFTER A STRONG REVENUE PERFORMANCE IN FIRST HALF OUR GROWTH RATE HAS MODERATED RECENTLY IN LINE WITH CONDITIONS IN OUR MARKETS.  Full Article

Ferguson Appoints Tom Schmitt Non Executive Director
Monday, 11 Feb 2019 

Feb 11 (Reuters) - Ferguson Plc ::FERGUSON PLC - NON EXECUTIVE DIRECTOR APPOINTMENT.FERGUSON PLC - APPOINTMENT OF TOM SCHMITT TO BOARD AS A NON EXECUTIVE DIRECTOR EFFECTIVE FROM 11 FEBRUARY 2019.FERGUSON PLC - TOM WILL JOIN NOMINATIONS, REMUNERATION AND AUDIT COMMITTEES OF BOARD.  Full Article

Ferguson's FY Ongoing Trading Profit Rises To $1.51 Bln From $1.31 Bln
Tuesday, 2 Oct 2018 

Oct 2 (Reuters) - Ferguson Plc ::RESULTS FOR THE YEAR ENDED 31 JULY 2018.FY REVENUE $20,752 MILLION VERSUS $19,284 MILLION.FY ONGOING TRADING PROFIT $1,507 MILLION VERSUS $1,307 MILLION.INCURRED A TAX CHARGE OF $346 MILLION ON FY PROFIT BEFORE TAX OF $1,187 MILLION (2017: $1,423 MILLION).GOOD U.S. RESIDENTIAL AND COMMERCIAL MARKETS AND STRONG INDUSTRIAL MARKET IN FY.IN FY, UK TRADING PROFITS LOWER IN CHALLENGING MARKETS, RESTRUCTURING PROGRAMME CONTINUING.PROPOSED FINAL DIVIDEND OF 131.9 CENTS.IN FIRST EIGHT WEEKS OF OUR NEW FINANCIAL YEAR ORGANIC REVENUE GROWTH HAS BEEN BROADLY IN LINE WITH OVERALL GROWTH RATE LAST YEAR.SOLID TRADING PERFORMANCE IN CANADA IN FY.ORGANIC REVENUE GROWTH IN SEPTEMBER WAS SLIGHTLY LOWER THAN AUGUST.PAID SPECIAL DIVIDEND OF $4 PER SHARE AMOUNTING TO $974 MILLION IN JUNE 2018.AT 31 JULY 2018 THE GROUP'S NET PENSION POSITION WAS AN ASSET OF $174 MILLION (2017: NET LIABILITY OF $28 MILLION).  Full Article

Ferguson Says Lone Star Funds Received Clearance Competition Authorities To Buy Stark Group​
Thursday, 15 Mar 2018 

March 15 (Reuters) - Ferguson Plc ::FERGUSON PLC - COMPETITION CLEARANCE - DISPOSAL OF STARK GROUP.FERGUSON PLC - LONE STAR FUNDS HAS NOW RECEIVED APPROPRIATE CLEARANCE FROM RELEVANT COMPETITION AUTHORITIES TO ACQUIRE STARK GROUP​.FERGUSON PLC - ‍FERGUSON EXPECTS TRANSACTION TO COMPLETE AT END OF MARCH 2018.​.  Full Article

Ferguson Issues Statement On Impact of US Tax Reform Legislation
Monday, 15 Jan 2018 

Jan 15 (Reuters) - Ferguson Plc ::‍NOTES ENACTMENT OF TAX CUTS AND JOBS ACT IN US​.GIVES RISE TO BENEFICIAL IMPACT ON GROUP'S AFTER TAX EARNINGS, PRINCIPALLY DUE TO REDUCTION OF US FEDERAL CORPORATE INCOME TAX RATE, EFFECTIVE JAN 1​.‍ESTIMATE GROUP EFFECTIVE TAX RATE OF APPROXIMATELY 25% FOR CURRENT FINANCIAL YEAR ENDING 31 JULY 2018, A REDUCTION FROM PREVIOUS GUIDANCE OF 28%​.‍ON AN ONGOING BASIS WE EXPECT GROUP'S EFFECTIVE TAX RATE TO BE IN RANGE 21% TO 22%​.  Full Article

Ferguson Plc announces disposal of Stark Group
Friday, 10 Nov 2017 

Nov 10 (Reuters) - FERGUSON PLC ::DISPOSAL OF STARK GROUP.AGREEMENT TO SELL STARK GROUP, ITS NORDICS BUILDING MATERIALS DISTRIBUTION BUSINESS, TO AFFILIATE OF LONE STAR FUNDS, FOR EUR 1,025 MILLION ​.‍EXPECT TRANSACTION TO COMPLETE EARLY IN 2018​.  Full Article

Ferguson instructs brokers to commence 500 mln STG share buy-back from Oct 5
Wednesday, 4 Oct 2017 

Oct 4 (Reuters) - Ferguson Plc :INSTRUCTED BROKERS TO PURCHASE ITS SHARES FOR IMMEDIATE ON-SALE TO COMPANY UP TO VALUE OF £500 MILLION IN AGGREGATE, FROM 5 OCTOBER 2017​.  Full Article

Ferguson posts FY trading profit of 1.12 bln pounds
Tuesday, 3 Oct 2017 

Oct 3 (Reuters) - FERGUSON PLC ::INITIATING A £500 MILLION SHARE BUYBACK PROGRAMME WHICH WE EXPECT TO COMPLETE OVER NEXT 12 MONTHS​.FY TOTAL GROUP REVENUE OF £17,324 MILLION INCLUDING £2,100 MILLION FROM DISCONTINUED OPERATIONS.‍GROUP WILL CONTINUE TO TARGET NET DEBT IN RANGE OF 1X TO 2X EBITDA, CONSISTENT WITH INVESTMENT GRADE CREDIT METRICS​.FY TRADING PROFIT OF £1,122 MILLION INCLUDING £63 MILLION FROM DISCONTINUED OPERATIONS.FY ‍GROSS MARGIN OF ONGOING BUSINESSES WAS 28.9%, 0.4% AHEAD OF LAST YEAR​.PROPOSED FINAL DIVIDEND OF 73.33P, BRINGING THE TOTAL FOR THE YEAR TO 110P, 10% AHEAD OF LAST YEAR.‍NORDICS DISPOSAL PROGRESSING AS PLANNED​.  Full Article

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Ferguson surges as activist fund Trian takes 6% stake

Activist fund Trian Fund Management LP said it has built up a 6% stake in Ferguson Plc, disclosing the investment days after the British plumbing products company reported disappointing results and slowing growth in its biggest market.