Ferguson increased its revenue more than 10%, ending the year with sales of $9.7 billion. The company was 8% ahead of last year on a like-for-like basis. As well, trading profits were ahead by 24% over last year.
“We gained market share in most of our major business units,” said Ferguson CEO Frank Roach. “The combination of having the best associates in the industry and providing world-class customer service continue to be key contributors to our performance. As well, we continue to see the benefits of business and geographic diversification which provides us with greater separation from economic conditions and lessens our exposure to the market’s cyclicality.”
The following segments were up from last year:
PM’s sister publication, Supply House Times, previously reported on the company’s acquisitions, which were completed in the year, two in the blended branches business and one in each of the waterworks and industrial businesses. Acquisitions accounted for 1.3% of revenue growth.