Wolseley Share Discussion Threads

[broadwood] 20/6/2017 11:25

Marked down sharply at the start, gradual recovery which needs to hold.

[broadwood] 20/6/2017 06:11

Commenting on the results, John Martin, Chief Executive, said:
"Revenue growth in the quarter was good with US residential and commercial markets growing well and industrial markets improving. The Nordics returned to growth and the UK was broadly flat.
"Since the end of the period revenue growth has been broadly in line with the third quarter, gross margins and cost control have been good. The Group expects trading profit for the full year to be in line with current analyst consensus expectations."

[broadwood] 05/6/2017 07:15

- 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

[broadwood] 29/3/2017 06:17

Peel Hunt
Wolseley PLC
29/03/2017
Upgrades
Reduce
Hold
1
4,370.00
5,120.00
5,130.00
750
0

[broadwood] 28/3/2017 15:46

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

[broadwood] 28/3/2017 15:45

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.

[broadwood] 15/3/2017 07:39

Barclays Capital
Wolseley PLC
15/03/2017
Reiterates
Top pick
Top pick
0

5,600.00
5,045.00
5600
2

[broadwood] 01/3/2017 16:06

Another rocketing share on the Donald's infrastructure promises.

[broadwood] 21/2/2017 07:20

Wolseley has signed an agreement to merge its Swiss plumbing and heating business, Tobler, with Walter Meier AG, a Swiss heating and HVAC distributor.

If the tie-up was completed, Wolseley expected to receive cash consideration of CHF117.8m and a 39.2% minority holding in the newly combined and enlarged business.

It said the potential merger would be consistent with the strategic objectives of both Wolseley and Walter Meier to create a high quality, market-leading business across plumbing, heating and HVAC distribution in Switzerland.

The proposed merger was subject to approval by Walter Meier's shareholders, appropriate financing and Swiss competition clearance and therefore there can be no certainty that the transaction will be completed.

[arnu gutierrez] 06/12/2016 01:54

Watch Wolseley (WOS) closely on potential upcoming earnings-numbers surprise

[broadwood] 22/3/2016 15:32

A pretty encouraging set of results - which the market looks like its cottoning on to.

[mortimer7] 22/3/2016 08:54

From todays RNS:-
"After a low point in November, like-for-like revenue growth over the subsequent three month period to 29 February 2016 improved to 3.2 per cent for the Group and 5.7 per cent in the USA"

[npp62] 29/1/2016 16:19

A quiet board.... In a sort of down trend since August?... What's going on?

[deadly] 18/10/2015 11:58

Yes competition - that's totally new!

[cottlet] 13/10/2015 11:03

any views?

[cottlet] 13/10/2015 11:03

any views?

[mr aboii] 08/10/2015 12:14

WELCOME TO WOLSELEY _ ACTIVE INVESTORS CLUB (WOS)

[mr aboii] 08/10/2015 12:14

WOLSELEY _ ACTIVE INVESTORS CLUB (WOS)

[yf23_1] 29/9/2015 15:20

competition

[deadly] 29/9/2015 09:13

So why the hammering today on those seemingly good results?

[redips2] 29/9/2015 09:00

Never ever take the slightest notice of them either way even if you live another 100 years, they are complete and utter rubbish designed to keep third rate failed bean counters in jobs .

[abcd1234] 29/9/2015 08:25

and what might those broker targets tell us ...ummm... about brokers and broker targets...
seriously !