logo
Plus   Neg
Share
Email

Ferguson Q1 Trading Profit, Revenue Up; FY20 View Remains Unchanged

Ferguson PLC (FERG.L, FERGY, WOSCF), a specialist distributor of plumbing and heating products, Tuesday reported that its first-quarter trading profit increased to $451 million from last year's $413 million.

Underlying trading profit was $433 million, up 4.8 percent from the previous year. Trading days were the same as last year. Gross margins were slightly lower at 29.7 percent in the quarter.

Revenue for the first quarter from ongoing businesses grew 5.3 percent to $5.21 billion from $4.95 billion a year ago, including 6.2 percent increase in the USA. Revenue was 5.4 percent ahead of last year at constant exchange rates and 2.5 percent ahead on an organic basis.

Looking ahead, Kevin Murphy, Group Chief Executive, said, "We expect to make further good progress in the year ahead. While US market growth is currently broadly flat we remain confident of outperforming our end markets and our order books support continued modest revenue growth in the months ahead. This strong focus on growth with continued cost and margin discipline gives us confidence in our expectations for the full year which remain unchanged."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Starbucks on Tuesday said it has closed more than half of its stores in China temporarily due to the worsening coronavirus outbreak that claimed around 132 lives in the country. The coffee giant is also monitoring and modifying the operating hours of all of its stores in the region.The closed store count would be more than 2000 as Starbucks operates almost 4,300 outlets in China. eBay Inc. (EBAY) Wednesday reported a fourth-quarter profit that trumped Wall Street analysts' estimates, as did revenues. However, shares of the company slipped over 5% after the company issued a weak outlook for the first quarter. eBay's fourth-quarter profit dropped to $558 million or $0.69 per... Apple Inc. (AAPL) Wednesday reported a first-quarter profit that trumped Wall Street estimates, as the iPhone maker reported its "highest quarterly revenue ever" driven by strong demand for its iPhone 11 and 11 Pro models during the holiday season. The tech giant also issued a strong revenue outlook...
RELATED NEWS
Follow RTT
>