Financial Results ... Ferguson
May 5, 2005
Ferguson, Newport News, Va., reported a record trading margin of 7.4%, ahead of its target of 6%, and sales growth of 17% for the half year ended Jan. 31. These results reflect strong organic growth and continued supply chain efficiencies for the first half of the fiscal year, the company said. The strong North American economies should present further opportunities for Ferguson's continued organic growth. Housing markets are likely to remain strong; the positive repairs, maintenance and improvement market is expected to continue and the industrial and commercial markets should show further progress, Wolseley reported. Stock Building Supply increased organic sales by 15.1% as a result of its improved market focus, restructuring and higher lumber prices.