Ferguson’s parent company Wolseley plc, announced its financial results for the 2012 fiscal year.

Fergusonincreased its revenue more than 10%, ending the year with sales of $9.7 billion. The company was 8% ahead of last year on a like-for-like basis. As well, trading profits were ahead by 24% over last year.

“We gained market share in most of our major business units,” said Ferguson CEOFrank Roach. “The combination of having the best associates in the industry and providing world-class customer service continue to be key contributors to our performance. As well, we continue to see the benefits of business and geographic diversification which provides us with greater separation from economic conditions and lessens our exposure to the market’s cyclicality.”

The following segments were up from last year:

  • The repair, maintenance, installation (RMI) segment remained resilient and the modest recovery in levels of new residential construction continued.

  • Ferguson’s blended branches, which serve both residential and commercial customers, continued to grow well and gain market share.

  • The Waterworks and Industrial businesses grew strongly though Industrial growth was restricted in the fourth quarter as demand weakened in the oil and gas sectors.

  • The HVAC business remained subdued due to the removal of government tax incentives last year.

    Supply House Times previously reported on the company’s acquisitions, which were completed in the year, two in the blended branches business and one in each of the waterworks and industrial businesses. Acquisitions accounted for 1.3% of revenue growth. 

    Source: Ferguson

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