Financial results revealed by Ferguson plc show a strong trading result in the first half of fiscal 2020, the distributor stated. Ferguson noted markets in the U.S. remained flat and the distributor’s businesses continued to take market share.
Ferguson noted ongoing revenue is 4.3% ahead of last year with continued market share gains in the U.S. U.S. revenue growth was 5% and underlying trading profit growth was 5.7%. Ferguson noted it had good gross margin and cost control that ensured trading profit growth outpaced revenue growth. Ferguson added it invested $141 million in acquisitions in the first half, including S.W. Anderson, and since the end of the period, Columbia Pipe and Supply.