Ferguson reported H1 FY20/21 results which were largely in line with market expectations. Organic revenue growth of >3% was aided by robust residential markets, while trading profit also improved, benefiting from cost control measures such as store closures and headcount reduction. Management remains cautious about H2 citing uncertainties, but still expects a market outperformance. The interim dividend was raised to $0.729 per share, and the company also announced the resuption of the share buy- ....
16 Mar 2021
Healthy exposure to US housing market underpins H1 performance
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Healthy exposure to US housing market underpins H1 performance
Ferguson Plc (FERG:LON) | 16,950 -28815 (-1.0%) | Mkt Cap: 34,377m
- Published:
16 Mar 2021 -
Author:
Vansh Mehta -
Pages:
3
Ferguson reported H1 FY20/21 results which were largely in line with market expectations. Organic revenue growth of >3% was aided by robust residential markets, while trading profit also improved, benefiting from cost control measures such as store closures and headcount reduction. Management remains cautious about H2 citing uncertainties, but still expects a market outperformance. The interim dividend was raised to $0.729 per share, and the company also announced the resuption of the share buy- ....