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Ferguson Revenues Down 3.6%, Trading Improved Since April - Quick Facts

Ferguson PLC (FERG.L, FERGY, WOSCF), a specialist distributor of plumbing and heating products, Friday said its revenue from continuing operations for the period from May 1 to July 21 dropped 3.6 percent.

In the month of April, revenue from continuing operations was down 15.3 percent.

In its pre-close period update, the company said its trading has improved steadily since April with revenue trends through May, June and July sequentially improving.

Ongoing group revenues dropped 1.1 percent in the period to July 21, including a 0.6 percent drop in USA and 8 percent decline in Canada. Meanwhile, UK non going revenues plunged 29.1 percent.

Blended Branches revenue declined 4.6 percent in the period, whilst Waterworks and HVAC grew 1.8 percent and 12.7 percent, respectively.

The standalone eBusiness continued to grow well with revenues 30.4 percent ahead of last year.

Kevin Murphy, Group Chief Executive, said, "Despite the challenges of COVID-19, our trading improved in the fourth quarter … Our actions to reduce the cost base will ensure that the business is better positioned for the medium-term economic environment."

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