Posted June 21, 2018

Ferguson reports 8 percent revenue gain

Ferguson reported third-quarter revenue of $5.08 billion, 8.0 percent ahead of last year at constant exchange rates and 7.1 percent ahead on an organic basis.

Sales in the U.S. of $4.1 billion was 10.6 percent higher than the same period last year.

“Growth was broadly based across all U.S. regions, supported by good market conditions. We also continued to manage gross margins effectively, making further progress. We generated good growth in Canada and in the UK we continued to focus on executing the restructuring plan," said John Martin, chief executive.

He added that the fourth quarter has started well with organic revenue growth in line with the third quarter. "Given the third quarter outturn, the Group is well positioned for a successful outcome for the year," Martin said.