In Q2, Ferguson saw a sequential moderation in organic revenue growth, in both the US and Canada. Despite this, management protected the profitability, on the back of cost-cutting actions. However, amidst the COVID-19 outbreak, it does not expect to meet the full-year guidance (moderate top-line growth and slight improvement in profitability).
17 Mar 2020
COVID-19 bites into the full-year guidance
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COVID-19 bites into the full-year guidance
Ferguson Plc (FERG:LON) | 17,025 -23835 (-0.8%) | Mkt Cap: 34,529m
- Published:
17 Mar 2020 -
Author:
Mohit Rathi -
Pages:
3
In Q2, Ferguson saw a sequential moderation in organic revenue growth, in both the US and Canada. Despite this, management protected the profitability, on the back of cost-cutting actions. However, amidst the COVID-19 outbreak, it does not expect to meet the full-year guidance (moderate top-line growth and slight improvement in profitability).