Ferguson 1Q Trading Profit, Revenue Rise
08 Diciembre 2020 - 1:56AM
Noticias Dow Jones
By Sabela Ojea
Ferguson PLC said Tuesday that its performance for the first
quarter of fiscal 2021 was marked by a rise in trading profit and
revenue, and it noted that it has continued to generate low
single-digit revenue growth in broadly flat markets since the start
of the second quarter.
The plumbing-and-heating products distributor posted a trading
profit--one of the company's preferred metrics which excludes
exceptional and other one-off items--for the three months ended
Oct. 31 of $504 million, up from $451 million for the year-earlier
period.
Underlying trading profit increased to $486 million from $433
million for the same period a year earlier.
Revenue rose to $5.37 billion from $5.21 billion, the FTSE
100-listed company added.
In Ferguson's core U.S. business, revenue came to $5.05 billion,
up from $4.89 billion. Ferguson said its Canadian unit's revenue
rose to $322 million from $315 million. The U.K. unit's
revenue--from non-ongoing operations--grew to $569 million from
$541 million.
"The business is in very good shape and we are well prepared
should there be any further market related disruption and overall
management's expectations for fiscal 2021 are unchanged," Chief
Executive Kevin Murphy said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
December 08, 2020 02:41 ET (07:41 GMT)
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