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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.

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