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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 16:46 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 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 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 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 businessHit from forex but that should be in the price. Strong comparaters otherwise. |
Posted at 01/7/2014 13:13 by broadwood Credit Suisse has lowered its price target for Wolseley from 4,000p to 3,800p to reflect currency movements, but has maintained its positive stance, saying it sees "robust" growth for the heating, plumbing and building products group."Our core thesis on WOS remains intact, and the stock remains on the Credit Suisse Focus List, with our positive view predicated on the combination of upbeat underlying trading momentum, potential for capital returns and valuation." |
Posted at 23/4/2014 17:07 by broadwood That would do very nicely.Wolseley climbs on hopes of cash return to shareholders Analysts say building materials group could return £14 a share over the next five years Wolseley is one of the day's biggest risers so far, climbing 1.5% on the prospects for the building materials company returning cash to shareholders. Its shares have added 51p to £34.12 after Credit Suisse raised its rating from neutral to buy with a £40 target price, saying: Our upgrade to Wolseley is primarily focused on the potential for capital return we see potential for £14 a share over next five years, equal to around 40% of market cap but this must be considered alongside a robust trading outlook, a quality management team, a stock that has underperformed its peer group in the past year and a compelling valuation. Wolseley generates the vast majority of its profit (90%) from three core geographies; the US (68%), the UK (12%) and Nordic (10%), all of which are end markets where we have an upbeat view of the midterm trading outlook - as such we see average organic sales growth of 4.5% over the next five years with margins increasing from 5.6% in 2013 to 7.6% by 2018, as a result of both operational leverage and on-going efficiency gains. Even after accounting for the increased working capital demands of a growing business (around 12% incremental sales) and on-going capital expenditure requirements (£180m-£200m per annum) we envisage a scenario of significant surplus cash. Wolseley states that it is, in principle, willing to consider making acquisitions but we highlight that management continually emphasizes that such deals must "meet the group's strict return criteria". Given management's admirable adherence to stringent return on capital employed criteria we believe anything other than reasonably small acquisitions are extremely unlikely as the valuations demand by vendors at this point of the cycle are, in our view, prohibitive. As such we assume a net cash outflow for small M&A of just £200m per annum. Accounting for all these cash movements, and including our assumption of regular, but not special, dividends we would see group net debt/EBITDA at 0.4 times this year and declining to -0.5 times by 2018, materially below management guidance.. of 1 to 2 times. As such we see material sized special dividends as the inevitable conclusion. We assume the group will pay a £325m (117p a share) special dividend this year, and growing every year thereafter for at least the next four years |
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