Ferguson Plc Q1 Profit Rises - Quick Facts

Ferguson plc (FERG.L) said its first quarter reported operating profit improved 64.2% from last year as strong revenue, gross margin expansion and good cost control led to strong operating leverage. Adjusted operating profit growth was 58.5%, for the quarter. Looking forward, Ferguson has increased its full year expectations.

First quarter income from continuing operations increased to $535 million from $316 million, last year. Earnings per share from continuing operations increased to $2.40 from $1.40. Adjusted net income increased to $557 million from $342 million. Adjusted earnings per share was $2.50 compared to $1.52.

First quarter net sales increased to $6.80 billion from $5.37 billion, prior year. Net sales were 26.6% ahead of last year, and 24.5% higher on an organic basis with 1.8% from acquisitions and a further 0.3% from the impact of foreign exchange.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Retail giant Walmart is set to expand its drone delivery network to 34 sites across six states in the U.S. by the end the year through its partnership with drone delivery company DroneUp. The deliveries will reach about 4 million U.S. households in Arizona, Arkansas, Florida, Texas, Utah and Virginia. Blue Moose of Boulder LLC recalled one lot of 7 oz units of its "Spinach Artichoke Parmesan Dip" for potentially containing undeclared tree nut (Cashew) and soy allergens, the U.S. Food and Drug Administration or FDA said in a statement. The recall was initiated due to mislabeling issue where a small run Spinach Artichoke Cashew Dip was labeled as Spinach Artichoke Parmesan Dip. Samsung Electronics announced that Google Assistant will be available for Galaxy Watch4 starting Tuesday. The South Korean electronics major has entered into partnership with Google to build a unified Wear OS platform for a seamless connection across Android devices. Starting Tuesday, Google Assistant will be available in 10 markets.
Follow RTT