Ferguson increased its revenue 12 percent, ending the year with sales of $13 billion, up from $11.6 billion last year. The company was 9.6 percent ahead of last year on a like-for-like basis, which measures growth of Ferguson’s existing stores or branches that have been open for at least one year. As well, trading profits were ahead 19.8 percent over last year. Ferguson’s trading margin reached a record high of 8.2 percent.
“We have concluded another great year and a strong performance,” said Ferguson CEO Frank Roach. “The outcome is a direct result of our associate’s collective efforts and commitment to providing world-class customer service while driving change and continuous improvement.”
Market growth was about 5 percent and Ferguson outperformed the market in almost all of its business segments. Blended branches (Ferguson locations that serve both residential and commercial customers) grew across all major regions, benefiting from growing markets and continued market share gains. Waterworks grew strongly and gained market share, and the HVAC, Fire and Fabrication and B2C e-commerce businesses all generated good growth.
Ferguson closed on 13 acquisitions this fiscal year. The acquisitions spanned coast-to-coast and multiple business types including waterworks, HVAC and plumbing distributors, in addition to eCommerce companies and appliance and lighting showrooms.
For more information on Wolseley’s year-end results, please visit www.wolseley.com.