Ferguson first-quarter revenue, profit higher on US, Canada growth

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Plumbing company Ferguson reported a rise in first-quarter profit and revenue, driven by strong growth in the US and Canada.

For the three months ended 31 October, trading profit rose 11.8% to $504 million year-on-year as revenue climbed 3.1% to $5.4 billion.

The US business generated revenue growth of 3.2%, and Canada generated 2.2%.

Looking ahead, the company that since the start of the second quarter it had continued to generate low single digit revenue growth in broadly flat markets, although it remained cautious on the outlook for the year as a whole, considering current pandemic trends.

'Despite these potential headwinds the business is in very good shape and we are well prepared should there be any further market related disruption and overall management's expectations for FY 2021 are unchanged,' it added.


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