Newport News, VA – Ferguson’s parent company Wolseley plc announced its financial results for the 2013 fiscal year.
Ferguson increased its revenue more than 10 percent, ending the year with sales of $10.6 billion. The company was eight percent ahead of last year on a like-for-like basis, which measures growth of Ferguson’s existing stores or branches that have been open for at least one year. As well, trading profits were ahead 27 percent over last year. Ferguson’s trading margin reached a record high of 7.3 percent, which was ahead of the previous peak achieved in 2007.
“I am so proud of what we accomplished in our 60th year of business,” said Ferguson CEO Frank Roach. “We had a record performance in an economy that provided us with little growth opportunity. Our success was the culmination of many things including a consistent business strategy, our commitment to providing world-class customer service and the hard work of our associates.”
Ferguson’s major business units of Blended Branches, Waterworks and Heating, Ventilation and Air-Conditioning (HVAC) gained market share. Blended Branches continued to grow strongly across the country underpinned by good renovation, maintenance and improvement (RMI) markets. New construction markets, which drive a smaller proportion of revenues, also improved. Ferguson’s consumer internet business, Build.com, continued to grow strongly and generated attractive returns.
Three acquisitions were completed in the year which accounted for 2.4 percent of revenue growth. Fifty-four new branches were opened, principally in the Waterworks and Industrial segments. Ferguson celebrated its 60th anniversary earlier this year. To celebrate the milestone, more than 225 Ferguson locations participated in the company's nationwide "60 Days of Caring" campaign, providing approximately 20,000 pounds of food to 101 different non-profit organizations throughout the U.S. including animal shelters, food banks and youth development programs.
For more information on Wolseley’s year-end results, please visit www.wolseley.com.
