Wolseley Reports 1Q Gains
Wolseley reported first quarter revenue in the USA was 10% ahead of last year, owing in part to strengthening of the U.S. dollar. Demand in Residential and RMI markets continued to improve and the business made good progress in the Industrial and Waterworks sectors. Demand in the Commercial sector remained subdued.
Canada generated revenue 16% ahead of last year, also due in part to the strengthening of the Canadian dollar. The growth trends continued to reflect positive economic factors although these have moderated recently. The Waterworks and Industrial PVF businesses continued to perform strongly.
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