After extensive streamlining across its global network in fiscal year 2009, UK-based Wolseley plc is shifting its focus towards improving operational performance in the remaining branches and business units. During the past year, Wolseley has eliminated nearly 10,000 positions were eliminated and closed 631 branches.
“There is little we can do to impact the market trajectory, but there is a lot we can do to improve our own performance, and that is absolutely what we’ve got the teams focused on right now,” CEO Ian Meakins said, speaking to investors about the company’s financial results for fiscal year 2009.
The international distributor of building materials and plumbing supplies posted a loss of £1.17 billion (US$1.86 billion) for fiscal year 2009. Losses from discontinued operations – including contributions from Stock Building Supply prior to its disposal in June – were £441 million (US$700.1 million).
“Our final results reflect the harsh impact …
