Ferguson reports 10% gains up from last year
Ferguson’s parent company Wolseley plc, announced its financial results for the 2012 fiscal year.
Ferguson increased 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 CEO Frank 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 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
Ferguson increased 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 CEO Frank 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:
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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