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WOS Wolseley

4,527.00
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Wolseley LSE:WOS London Ordinary Share JE00BFNWV485 ORD 10 53/66P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 4,527.00 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
4,530.00 4,532.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 4,527.00 GBX

Wolseley (WOS) Latest News

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Posted at 05/6/2017 08:15 by broadwood
- JP Morgan Cazenove today upgrades its investment rating on Wolseley PLC [LON:WOS] to overweight (from neutral) and raised its price target to 5600p (from 4960p
Posted at 28/3/2017 16:46 by broadwood
Wolseley said it expected to achieve further progress in H2 as it turned in a lower H1 pretax profit accompanied by a rise in interim dividend, and unveiled a name change to Ferguson Plc.

Pretax profit for H1 was £328m, from £367m. Its revenue rose to £8.5m, from £6.8m. Interim dividend was 36.76p a share, up from 33.28p.

CEO John Martin said Wolseley delivered a good trading performance in the first half, driven by US-subsidiary Ferguson Enterprises.

"In the US, residential and commercial markets remained good and industrial markets improved but were still negative. Commodity price deflation reduced US revenue growth by 1.8 per cent in the first half," it said. Martin added that the UK transformation programme had started well and was are making good progress clarifying customer propositions and simplifying the logistics network.

"We have concluded our review of the Nordic operating strategy and identified a clear and executable plan to return the business to profitable growth," he said in a statement.

"However, there are few synergies with the rest of the Group's plumbing and heating businesses and we have initiated a process to exit our business in the region. We have excellent opportunities to generate attractive returns in our other businesses and we will focus resources there in the future."

Martin said Ferguson now accounted for 84% of group trading profit and that Wolseley had decided to align the group's name with its most significant brand in our largest market.

"Whilst the Group will be known as Ferguson plc going forward we will continue to use the Wolseley name in the UK and Canada where it has strong local recognition."

The CEO continued that like-for-like revenue growth since the end of the period was about 4.5% for the group and 5.5% in the US.

"Commodity deflation has been negligible in this period. We continue to execute our strategy of investing in profitable growth and expansion where appropriate while keeping tight control of the cost base. We expect the Group to make further progress in the second half."

Separately, Wolseley announced Frank Roach had indicated his intention to retire as CEO of Ferguson Enterprises and as an executive director of the group on 31 July 2017. He would be succeeded by Kevin Murphy
Posted at 01/3/2017 16:06 by broadwood
Another rocketing share on the Donald's infrastructure promises.
Posted at 06/12/2016 01:54 by arnu gutierrez
Watch Wolseley (WOS) closely on potential upcoming earnings-numbers surprise
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 24/3/2015 09:24 by broadwood
Builders and plumbers merchant Wolseley said it is on track for the full year after a double-digit increase in underlying profits in the first half, helped by record trading margins in the States and strong growth in e-commerce.
Adjusted trading profits rose 11.1% year-on-year to £390m in the six months to 31 January.

However, reported pre-tax profit sank 67% to £103m after a £245m impairment relating to acquired intangibles in the Nordics arising from the acquisition of DT Group back in 2006.

Group revenues rose 8.9% to £6.44bn, up 10.3% at constant exchange rates and 7.8% higher on a like-for-like (LFL) basis. LFL sales from the USA, its largest division with half-year sales of £3.91bn, were up 11.7%.

Meanwhile, e-commerce now accounts for 13% of group revenues at £811m.

Chief executive Ian Meakins said Wolseley delivered a "good trading performance" and the ongoing trading margin improved by 20 basis points to 6.1%.

"This was driven by the USA where all of our businesses strongly outperformed their markets and we achieved a record 7.9% trading margin," he said.

LFL revenue growth rates across the rest of the group also improved which the company said was driven by targeted investment in sales and marketing.

The company raised its interim dividend by 10% to 30.25p per share.

However, looking ahead the company expects group LFL growth to moderate to "about 6%", though constant-currency trading profits for the full year should be in line with analysts' expectations
Posted at 17/3/2015 16:54 by broadwood
Shares in Wolseley were retreating on Tuesday after solid gains the previous day, though analysts at UBS hiked their target price for the stock and gave a positive outlook ahead of the plumbers and builders merchant's interim results next week.
The bank lifted its target for the shares from 3,980p to 4,500p and retained a 'buy' rating, saying it expects Wolseley to report "solid" growth in the States when it reports on its half year on 24 March.

Like-for-like (LFL) sales are expected to have grown by 6.5% in the six months to 31 January, though UBS noted that the reported figure could be higher if the struggling French business is re-classified as a discontinued operations.

The US business, which accounts for around three-quarters of group earnings, is forecast to have increased LFL sales by 12.5% in the second quarter alone, after 12.4% growth in the first. UBS said: "Peer reporting suggests there is risk to the upside considering a relatively easy comparison basis from the prior year."

Trading profits are estimated to rise by 14% to £401m for the first half, with earnings per share up 15% at 105p.

UBS said: "Going forward, we expect more of the same: a focus on enhancing organic growth, small bolt on M&A and cash returns to shareholders. The US comps will undoubtedly get tougher and holding double digit growth will be more challenging, but we believe high single digit sales growth remains achievable into [financial years ending 2016 and 2017]."

With the shares trading at 16.1 and 14.1 times 2015 and 2016 calendar year earnings respectively, the broker admitted that the valuation is no longer depressed but still remains "attractive" compared with its peers.
Posted at 30/9/2014 10:41 by broadwood
Final results from plumbing supplier Wolseley were in line with expectations, as a strong performance from the USA helped lift earnings almost 10%.
Revenue of the ongoing businesses was up 6.1% in the year to 31 July compared to the previous year at constant exchange rates, including like-for-like growth of 4.2%.

The US achieved 11% growth in like-for-like sales in the fourth quarter, up from 9% in the third, as businesses there continued to strongly outperform their markets. US margins of 7.7% for the full year were a company record.

Chief executive Ian Meakins defended flat like-for-like revenue in the UK as resulting from management's focus on protecting gross margins.

"We faced headwinds in Continental Europe and have continued to take actions to protect profitability," he added.

Demand in the repairs, maintenance and improvement (RMI) markets grew modestly in most countries but while residential new construction markets were good in the USA they were weak in Europe.

Profit before tax rose 52% to £698m, as the business incurred a large exceptional charge the prior year.

Earnings per share rose 9.9% 196.2p, helped also by a lower finance charges, and the board lifted the dividend by 25% to 82.5p a share, as expected.

Commenting on outlook, Meakins said: "The overall like-for-like revenue growth rate for the group since the beginning of the new financial year has been broadly in line with Q4. Overall we expect the group's like-for-like revenue growth rate for the next six months to be about 5%."

Meakins also announced a £250m share buyback, the third consecutive annual return.

Broker Westhouse said the result was "in the ball park on an ongoing basis" and was slightly surprised by the buyback, having thought this was "a possibility rather than a probability".

"Some two-thirds of analysts polled by Bloomberg had expected this - so the reaction could be more of relief than a positive surprise."
Posted at 30/9/2014 07:35 by broadwood
We are committed to generating attractive returns for shareholders by maintaining strong capital discipline. This year we have increased the dividend by 25 per cent, including a rebasing of 15 per cent announced at the half year, and the Board is recommending a final dividend of 55 pence per share which brings the total dividend for the year to 82.5 pence per share. Wolseley continues to be highly cash generative and we have adequate resources to fund future investment in the business, including bolt-on acquisitions and growth in ordinary dividends. We are today announcing a GBP250 million share buyback programme which reflects the Group's strong financial position and management's confidence in the business

Hit from forex but that should be in the price. Strong comparaters otherwise.
Wolseley share price data is direct from the London Stock Exchange

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