Ferguson plc, parent company of Ferguson, announced its financial results for the first-half of the 2018 fiscal year.
In the U.S., Ferguson reported overall growth of 10.6 percent, including 1.8 percent coming from acquisitions. All of Ferguson’s businesses saw revenue growth, with Blended Branches (locations serving both residential and commercial customers) growing well across all regions. Waterworks grew strongly, and the Industrial business continued to recover after a few years of slow market growth. Total e-commerce now represents 23 percent of U.S. revenues, and the B2C ecommerce business continues to grow. Gross margins improved, and trading margin was 8.2 percent and trading profit was 15.7 percent ahead of last year.