Wolseley Sales Up 2.2% in FY2014 - Modern Distribution Management

Wolseley Sales Up 2.2% in FY2014

U.S. revenue increased 8.2 percent year-over-year to 7 million (US$11.4 million).

UK-based Wolseley plc reported full-year sales of £12.8 billion (US$20.8 billion), a 2.2 percent increase over the same period a year ago. Profit increased 51.7 percent to £698 million (US$1.1 billion). 

“Like-for-like revenue was flat in the UK as we focused on protecting gross margins,” said Ian Meakins, CEO of Wolseley. “We faced headwinds in Continental Europe and have continued to take actions to protect profitability.”

Ferguson sales grew 10 percent to $11.6 billion. Sales grew 8 percent on a like-for-like basis. Trading profits increase 16 percent over last year. The RMI market continued to grow steadily while growth in the new residential market remained modest. The commercial segment was more positive. Waterworks grew strongly, and the HVAC, fire and fabrication and industrial PVF businesses generated good growth. Build.com and e-commerce channels accounted for 16 percent of total revenue. Four bolt-on acquisitions were made during the year with total sales of £184 million (US$298.5 million), and seven new branches were opened.

Canadian sales decreased 0.8 percent to £779 million (US$1.3 billion). Market conditions varied across the region, with continued growth in the West offsetting weakness in Quebec.

Sales in the UK were £1.8 billion (US$2.9 billion), an increase of 4.7 percent compared to the same period a year ago. Trading profit was flat at £96 million (US$155.8 million).

Sales in the Nordic region were £1.9 billion (US$3.1 billion), an increase of 1.3 percent compared to the same period a year ago. Trading profit decreased 10 percent to £80 million (US$129 million).

Sales in Central Europe and France were £1.2 billion (US$1.9 billion), a decrease of 2 percent compared to the same period a year ago. Trading profit decreased 26 percent to £34 million (US$55.2 million).

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!