Ferguson Fiscal Year 2020 Pretax Profit Slipped Amid Pandemic; Reinstates Dividends
29 Septiembre 2020 - 01:56AM
Noticias Dow Jones
By Joe Hoppe
Ferguson PLC on Tuesday reported a 4.8% fall in pretax profit
for fiscal 2020 during the coronavirus pandemic, declared Bill
Brundage the new chief financial officer, and declared a
dividend.
The supplier of plumbing and heating products made a pretax
profit of $1.26 billion for the year ended July 31 compared with
$1.32 billion for fiscal 2019. The company attributed the fall to
the effects of the pandemic.
Revenue was $21.82 billion compared with $22.01 billion in
2019.
Trading profit--one of the company's preferred metrics which
excludes exceptional and other one-off items--was $1.60 billion
compared with $1.53 billion the year before.
The board reinstated a dividend of 208.2 cents a share, flat on
2019, given its strong financial position and good prospects.
The company said it has appointed Bill Brundage as its new CFO,
effective from Nov. 1. Mr. Brundage is currently CFO of Ferguson
Enterprises, a role he has held since March 2017.
Ferguson said the fundamental aspects of its business model
remained attractive despite caution in its outlook for fiscal 2021
as a whole, given the uncertain nature of the virus. Since the
start of the new year, low single digit revenue growth has been
generated in the U.S. in flat markets overall, Ferguson said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
September 29, 2020 02:41 ET (06:41 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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