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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Wolseley | WOS | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 4,527.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 4,527.00 | 4,527.00 |
| Top Posts |
|---|
Posted at 28/3/2017 16:45 by broadwood London's FTSE 100 was up 0.1% to 7,302.51 in afternoon trade as investors looked ahead to Wednesday, when PM Theresa May will officially kick off divorce proceedings with the EU.Plumbing and heating supplier Wolseley was the standout gainer as it unveiled a name change and plans to withdraw from the Nordics, along with a drop in half-year pre-tax profit and a 10% dividend hike. The group said it would now be called Ferguson, in recognition of the US division that now pulls in 84% of group trading profit - a move that was welcomed by investors. |
Posted at 08/10/2015 13:14 by mr aboii WELCOME TO WOLSELEY _ ACTIVE INVESTORS CLUB (WOS) |
Posted at 08/10/2015 13:14 by mr aboii WOLSELEY _ ACTIVE INVESTORS CLUB (WOS) |
Posted at 02/2/2015 15:56 by zyzzyva Buy recommendation in Investors Chronicle = kiss of death |
Posted at 30/9/2012 07:21 by bigbigdave STimesWolseley to cement success with special dividend WOLSELEY is set to return several hundred million pounds to investors when the building materials supplier reports annual results this week. Ian Meakins, the chief executive, could reveal a special dividend of between 100p and 200p, according to analysts at UBS. This would result in a cash return of about £286m at the bottom end of the range and up to £572m at the top. The FTSE 100 company had previously indicated it would consider returning excess capital to shareholders if there were no sizable acquisition opportunities. "We believe the market is increasingly expecting a special dividend given the significantly improved balance sheet," UBS said in a research note to clients this month. Wolseley is the world's largest trade distributor of plumbing and heating products, with 44,000 employees in 23 countries. On Tuesday, the group will report pre-tax profits of about £518m on revenues of £13.5 billion, according to forecasts. It is expected to write down the value of its struggling European business. In July, the group said it was considering offloading the remainder of its French business, following the sale of its Brossette subsidiary last year. Wolseley warned it could write off all the division's £136m of goodwill. It also cautioned that it would cut the value of the £393m of goodwill at its Danish business. Wolseley shares have risen 76% in the past year as Meakins and his team have slimmed down the group, selling off underperforming assets such as the Bathstore and Build Center chains. The shares closed at £26.52 on Friday, valuing the group at £7.59 billion. |
Posted at 19/1/2011 13:42 by wig123 19/01 13:38 - DJ Treasurys Up On Drop In Housing Starts, Goldman EarningsBy Min Zeng Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Treasurys rose on Wednesday as some investors bought safe-haven major government bonds on a decline in housing starts and disappointing earnings report from Goldman Sachs Group Inc (GS). Housing starts fell 4.3% to a seasonally adjusted annual rate of 529,000 from an downwardly revised 553,000 a month earlier, the Commerce Department said Wednesday. Economists surveyed by Dow Jones Newswires expected overall housing starts to fall slightly in December to a rate of 554,000 from the government's original estimate of 555,000 in November. On a bright note, building permits, a gauge of future construction, surged 16.7% to an annual rate of 635,000. In recent trading, the benchmark 10-year note was 6/32 higher to yield 3.353%. The 30-year bond was 14/32 higher to yield 4.538%. Bond yields move inversely to their prices. Goldman Sachs's fourth-quarter profit fell 52% as revenue fell more than analysts expected. Shares in recent premarket trading. Through the latest close, the stock had gained 4.7% over the past year. -By Min Zeng, Dow Jones Newswires; 212-416-2229; min.zeng@dowjones |
Posted at 24/2/2010 16:42 by spob .........Mr Cooper said: "At this stage there is no clear indication when our markets might return to growth again ... We are wary of the probably false starts that we expect to see ... activity levels remain fragile." He added: "We are prepared for a long period of probable low growth and difficult trading conditions before we can anticipate a return to growth in our markets. "We are concerned in particular about weak consumer spending trends in 2010 as inflation rises and the cushion of falling mortgage costs annualises out." He said that demand from both builders and from consumers for home improvement would continue to fall this year. His gloomy outlook statement, described by one analyst as "very dark", stunned investors, many of whom had been expecting a steady recovery. Travis shares fell as much as 7 per cent in early trade. By mid-morning they were down 47.5p at 702.8p. |
Posted at 09/1/2010 11:34 by sleepy Wolseley announces disposal of Irish businessesWolseley announced today that it has agreed to dispose of 100% of its shareholding in Wolseley Ireland Holdings Limited (WIHL) to WIBHM Limited, a private investor backed company, for total consideration of 26.5 million (£23.8 million). Cash consideration of 6.5 million (£5.8 million) was paid on completion. The balance of 20 million (£18 million) will be satisfied through a loan note issued in favour of Wolseley at a coupon of 10%, to be repaid within one year. Under the terms of the agreement, Wolseley has agreed to fund the deficit in the Northern Ireland pension scheme (currently estimated to be 5.5 million (£4.9 million)), and this will be repaid by the purchaser by means of a separate loan note with a coupon of 3%. Repayments under this loan note will start at the end of its second year, at a rate of 1.5 million (£1.3 million) per annum. The balance of any deficit still remaining in the fifth year will be repaid in full. Both loan notes are secured in full on WIHL freehold property assets in Ireland. WIHL comprises the Company's entire interest in the Republic of Ireland including the Heat Merchants, Brooks, Tubs and Tiles and Encon Ireland trading brands and also includes the Brooks business in Northern Ireland. The combined businesses operate through a network of 67 branches and approximately 650 employees. Wolseley is disposing of the businesses in line with its strategy of focusing its activities where we have built sufficient scale, established leading market positions and can deliver an appropriate financial return. In the year ended 31 July 2009, the businesses had combined sales of 237 million (£204 million) and underlying operating losses of 34 million (£30 million). On a pro forma basis, sales for the 5 months ended 31 December 2009 were 75 million (£67 million) and underlying operating losses were 5 million (£4.6 million). Net assets at completion are estimated at 73 million (£66 million) and the exceptional pre tax loss on disposal, excluding any recycling of currency translation from reserves arising from the transaction is estimated to be around 55 million (£50 million). Commenting on the disposal, Ian Meakins, chief executive of Wolseley, said: "I am confident that the transaction we have concluded with WIBHM Limited represents a good outcome for Wolseley's shareholders. It will also enable us to bring an even greater degree of focus on driving performance improvement in our core UK businesses." |
Posted at 28/5/2009 17:40 by spob from ft alphaville PM: We haven't mentioned Wolseley BE: No. PM: Stock has been hammered this morning PM: Price down 170p at 10.59 BE: That's post the reverse stock split of course. BE: Or whatever Charlomango wants us to call share consolidations. BE: Anyway, I'll just jump to a succinct summary from Collins Stewart. BE: Another disaster BE: Yet another grim trading update Wolseley has put out an IMS for 9M ended April 2009. Sales are up 0.2%, but EBITA is down 58% and PBT 80% down. In comparison, BSS yesterday reported FY results with virtually stable sales and EBIT/PBT. We believe Wolseley is losing market share the turmoil of its debt problems and the scale of Stock losses have left it poorly placed to navigate the downturn. For the first 9M, Wolseley reported the following EBITA trends US 32%, UK down 75%, France 70%, Nordic 50%. We downgrade from Hold to Sell, TP 1030p. BE: Stock losses wont disappear after all Wolseley has put its loss-making US housing business Stock into a JV. It will consolidate its 49% share of the post-tax losses going forward. This partial exit near the bottom of the US housing cycle is unfortunate in our view. BE: How attractive is the rest of the business? Post-Stock, Wolseley is left with the following sales split US 38%, Canada 5%, UK 20%, France 15%, Nordic 15%, CEE 7% (CEE is under strategic review). This split is far from ideal. The US business Ferguson is mainly geared to commercial spend, which peaked in Q408 and faces a +30% fall in the next two years, in our view. The group is losing market share in the UK and France to the likes of Travis, BSS and St Gobain. The Nordic business DT also faces a sharp fall in underlying demand. BE: Very sharp rally cut to Sell The shares have more than doubled from March lows. Short interest which peaked at over 20% - now stands below 5%. Two long-awaited catalysts the rights issue and Stock JV are behind us. We cut our 09 EBITA by 16% and from Hold to Sell, TP 1030p. This is based on DCF (WACC 9.3%, growth 2%). CS Quest default stands even lower, at 836p, with a Triangle score of 2/10 and the CS Quest value per share falling 26% pa over the last three years. The stock trades on 17x PE, above the upper end of its historical range. We are not convinced that Wolseley is at the trough of the cycle and question a premium rating given its performance in this downturn. BE: And a line from HSBC BE: 3Q trading update worse than expected Wolseley's trading update indicated a constant currency decline in revenues of c15% and trading profit of c65%. This implies a c21% decline for Q3 on a constant currency basis, given the c12% constant currency decline in H109a. Trading profit of GBP189m for the nine months indicates a GBP7m trading profit in Q309e or a 0.2% trading margin (pre-restructuring costs and amortisation). BE: Europe's weakness expected, Ferguson will be a negative surprise for investors We believe that weakness in Europe was anticipated, but weakness at the US plumbing business, Ferguson, will be a surprise. Ferguson recorded a constant currency revenue decline of c15% (H109a was -11%). Worse still, the trading margin for nine months in the division was c5.1% (from c6.2% until H109a). This implies a strong margin decline in Q309. We were modelling a margin improvement as a result of restructuring actions in H209 in the division, which clearly did not happen. Wolseley claims that Ferguson continues to focus on high margin activity. We believe the margin decline is likely to be a result of a mixture of pricing pressure as well as supplier rebate losses (implied by a mild decline in gross margins). BE: In Europe, revenue and trading profit decline rates have accelerated in Q309e. UK and Ireland recorded constant currency revenue declines for the nine months of FY09e of c15% (H109a - 14%), France of c10% (H109 -6%), and Nordic markets of c19% (H109 -13%). All these numbers indicate that Q3 decline rates were much higher. Furthermore, the company has announced an additional cost saving programme. We believe that until the bottom of the downward trend is reached, cost reduction programmes are likely to remain in place. In terms of the outlook, Wolseley indicates that it anticipates weak market conditions until early 2010e. BE: We believe it is too early to put Wolseley on mid-cycle multiple on the mid-term estimates as (1) the extent of downturn and (2) the shape of recovery are two key risks. Wolseley trades at PE multiple of c16.5x 2010e and on mid-cycle multiples on FY2011e. Given the risk of margin declines due to supplier rebate losses, pricing pressure and the unknown extent of the downturn, we reiterate our Underweight (V) rating on Wolseley with target price of 1,000p. BE: Wolseley really is a serial offender for this kind of thing. PM: indeed PM: thanks for that |
Posted at 18/1/2009 16:49 by scburbs Second lead story on the front page of The Sunday Times, will be interesting to see if market reacts tomorrow morning. Looks like there are strong sources to back this up. Given the company said it didn't need equity it may be accompanied by a profit warning indicating trading has deteriorated. TS is expected on 26th Jan, although the breaking news may force them to comment sooner."Wolseley in rescue cash call THE building-materials giant Wolseley is in detailed talks with investors and private-equity groups to raise between £200m and £400m in a rescue fundraising. The company is one of dozens of quoted groups that are preparing to raise hundreds of millions of pounds in the coming weeks to reduce ballooning corporate borrowings. Chip Hornsby, chief executive of the £2.2 billion company, has been in talks with investors. He is also negotiating with private-equity groups about raising additional capital in a private placement. A final decision on how much is required and whether to proceed will be made in the next three weeks at the end of its financial half-year." |
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