Ferguson’s Q3 FY20/21 results came in ahead of market expectations. Organic sales growth of c.21% was a result of the strong US residential market, with trading profit further benefiting from a combination of factors, including a favourable channel sales mix and operational improvements. Management raised its FY20/21 outlook on the back of a strong Q3 and early-May momentum. While we will raise our estimates, the recommendation should remain unchanged given the company’s expensive valuation and ....
19 May 2021
Strong Q3 as momentum accelerates
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Strong Q3 as momentum accelerates
Ferguson Plc (FERG:LON) | 16,950 -28815 (-1.0%) | Mkt Cap: 34,377m
- Published:
19 May 2021 -
Author:
Vansh Mehta -
Pages:
3
Ferguson’s Q3 FY20/21 results came in ahead of market expectations. Organic sales growth of c.21% was a result of the strong US residential market, with trading profit further benefiting from a combination of factors, including a favourable channel sales mix and operational improvements. Management raised its FY20/21 outlook on the back of a strong Q3 and early-May momentum. While we will raise our estimates, the recommendation should remain unchanged given the company’s expensive valuation and ....