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| Version 1 | Version 2 |
|---|---|
| Wolseley profits jump on US growth | Wolseley profits jump on US growth |
| (7 months later) | |
| Building and heating materials group Wolseley has seen profits more than double, driven by its US division. | Building and heating materials group Wolseley has seen profits more than double, driven by its US division. |
| Full-year pre-tax profits at the company, which owns Plumb Center and Bathstore in the UK and Ferguson in the US, jumped from £198m to £473m. | |
| Wolseley said it was seeing early signs of recovery in UK but continued weakness elsewhere in Europe. | Wolseley said it was seeing early signs of recovery in UK but continued weakness elsewhere in Europe. |
| The firm increased its dividend by 10%, and said it planned a £300m special dividend in December. | The firm increased its dividend by 10%, and said it planned a £300m special dividend in December. |
| Revenue from ongoing businesses in the year to the end of July was up 4.1% to £12.9bn. | Revenue from ongoing businesses in the year to the end of July was up 4.1% to £12.9bn. |
| Chief executive Ian Meakins said revenue growth rates had been maintained going into the new financial year. | Chief executive Ian Meakins said revenue growth rates had been maintained going into the new financial year. |
| "Our markets in the US continue to grow steadily and the UK market growth is encouraging," he said. | "Our markets in the US continue to grow steadily and the UK market growth is encouraging," he said. |
| "However, economic conditions in Continental Europe are very challenging and we expect them to remain so for the foreseeable future." | "However, economic conditions in Continental Europe are very challenging and we expect them to remain so for the foreseeable future." |
| The firm said demand in its repairs, maintenance and improvement markets remained stable in most countries. | The firm said demand in its repairs, maintenance and improvement markets remained stable in most countries. |
| However, residential new construction markets were weak in all regions outside the US, it said. | However, residential new construction markets were weak in all regions outside the US, it said. |
| The company plans to play a total dividend for the year of 66p per share, a year-on-year increase of 10%. | The company plans to play a total dividend for the year of 66p per share, a year-on-year increase of 10%. |