Wolseley Sales Up 16.6% in 3Q - Modern Distribution Management

Wolseley Sales Up 16.6% in 3Q

U.S. sales up 25 percent in the third quarter.

UK-based Wolseley plc, parent company of Ferguson Enterprises, reported third quarter sales of £3.3 billion (US$5.1 billion), up 16.6 percent. On a like-for-like basis, sales were up 7.5 percent.

Trading profit for the quarter was £195 million (US$289.9 million).

Three bolt-on acquisitions were completed in the quarter with annualized sales of £69 million (US$105.8 million).

Fiscal year-to-date sales were £9.7 billion (US$14.9 billion), up 11.5 percent year-over-year and up 7.8 percent on a like-for-like basis. Trading profit increased 17 percent to £584 million (US$895.2 million).

U.S.
U.S. business sales, including Ferguson, were up 8.3 percent from last year to £2.1 billion (US$3.2 billion) on a like-for-like basis. On an actual basis, sales were up 25 percent and acquisitions contributed an additional 3.3 percent. 

The blended branches, fire and fabrication and industrial businesses all generated good like-for-like revenue growth and the B2C business continued to grow strongly. 

Trading profit in the U.S. was up 35.5 percent to £164 million (US$251.4 million).

Two further acquisitions, Redlon & Johnson and Arkansas Supply, were completed in the quarter with total annualized sales of £31 million (US$47.5 million).

Canada
Sales in Canada were down 1.9 percent compared to last year on a like-for-like basis. Acquisitions contributed an additional 2.1 percent.

UK
Sales in the UK were 7.6 percent ahead of the prior year on a like-for-like basis with acquisitions contributing an additional 4.2 percent.

The acquisition of MPS, a utilities business with annualized sales of £38 million (US$58.2 billion), was completed after the end of the quarter.

Nordics
Sales in the Nordics region were up 8.8 percent on a like-for-like basis with acquisitions contributing an additional 4 percent.

Central Europe
Like-for-like sales in Central Europe increased 1 percent. Sales and gross margins were lower in Switzerland, which was affected by currency volatility, and were ahead in the Netherlands. 

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!