Ferguson’s parent company, Ferguson plc, the world’s leading specialist distributor of plumbing and heating products, announced its financial results for the first-half of the 2018 fiscal year, which runs Aug. 1 through July 31.
In the U.S., Ferguson reported overall growth of 10.6 percent, including 1.8 percent coming from acquisitions. All of Ferguson’s businesses saw revenue growth, with Blended Branches (locations serving both residential and commercial customers) growing well across all regions. Waterworks grew strongly, and the Industrial business continued to recover after a few years of slow market growth. Total e-commerce now represents 23 percent of U.S. revenues, and the B2C e-commerce business continues to grow. Gross margins improved, and trading margin was 8.2 percent and trading profit was 15.7 percent ahead of last year.
“Our strong results are attributed to the phenomenal performance our associates deliver each and every day,” said CEO Kevin Murphy. “We will continue to invest in areas that support future profitable growth and deliver the best possible Ferguson experience to our customers.”
Three acquisitions were completed in the first-half of fiscal year 2018. These included two e-commerce companies: Supply.com, a master distributor and e-commerce company and AC Wholesalers, an online distributor of air conditioning and heating products. Ferguson also acquired Duhig Stainless, an industrial business with three locations in California.
Read more about Ferguson plc’s first-half results.