Ferguson Sales Up 9% From Last Year
The projections measure sales growth though Ferguson’s existing stores or branches that have been open for at least one year. It does not factor the impact of new locations, acquisitions or closures.
Ferguson’s blended branches, which service residential and commercial customers, showed solid revenue and market share growth throughout the year. The PFV and HVAC sectors made nice gains during the year and continued to perform soundly. Thanks to a buoyant oil and gas sector that helped the Industrial business perform well.
“Our success this year was a testament to the hard work of our associates,” Ferguson CEO Frank Roach says. “The last two years prove that we can adapt to any market conditions if we continue to be agile as a company and focus on providing world-class customer service to our customers.”
In the first half of 2011, Ferguson finished a small Waterworks acquisition in Alabama. Since the year-end, Ferguson acquired a PVF business in Louisiana and a plumbing business in Chicago. The company’s trading margin was 5.7%, up from 4.6% in 2010.