Ferguson reports first-half fiscal year sales growth
Ferguson’s parent company Wolseley plc recently released its financial results for the first half of the 2016 fiscal year. Ferguson reported overall growth of 6.5%, increasing its revenue 4.3% on a like-for-like basis, which measures growth of Ferguson’s existing stores or branches that have been open for at least one year.
Acquisitions contributed 2.1% of additional revenue growth. The company’s trading margin was 7.9%, consistent with 2015. Trading profit was 5.5% ahead of last year. “I’m pleased with our ability to outperform the market,” Ferguson CEO Frank Roach said. “Our associates are doing a great job working hard and growing sales while still remaining focused on customer service.”