On 3 September 2019, the Board of Ferguson (LON:FERG) today announced its intention, subject to shareholder approval, to demerge its UK operations. This would result in Ferguson being wholly focused on its attractive North American markets. At the same time, the Board also announced that it was considering the most appropriate listing structure for the Group going forward. Following the …
Ferguson appoint Simon Oakland as interim CEO at Wolseley UK
Ferguson (LON:FERG) today announced the appointment of Simon Oakland as interim Chief Executive Officer of Wolseley UK. Simon replaces Mark Higson, who is stepping down to pursue an opportunity outside of the Company. Mark will leave the Company on 31 January 2020 to facilitate a handover and Ferguson has commenced a search for his permanent successor. The Board thanks him …
Ferguson firmly focused on maximizing organic revenue growth
Ferguson (LON:FERG) has announced its trading update for the 3 months to 31 October 2019. First quarter highlights − Ongoing revenue 5.3% ahead of last year including 6.2% in the USA. − Continued tight cost control ensured good profit delivery. − Underlying trading profit of $433 million was $20 million ahead of last year. − Invested $62 million in acquisitions in Q1, healthy forward deal pipeline. …
Ferguson PLC CEO succession and demerger of Wolseley UK
Proposed demerger of Wolseley UK The Board of Ferguson plc (LON: FERG) today announced its intention to demerge its UK operations subject to shareholder approval. The decision marks the conclusion of a detailed review of the Group’s assets over several years. On completion of the transaction Wolseley UK will become an independent listed Company serving residential and commercial trades people …
Ferguson plc Instructs J.P. Morgan to purchase and sell up to US $419.8m shares
Ferguson plc (LON: FERG) announced today that, in continuation of the share repurchase programme announced by the Company on 11 June 2019, it has instructed its broker J.P. Morgan Securities plc to purchase shares (acting as riskless principal) for immediate on-sale to the Company up to the value of US$419.8 million in aggregate, commencing from 8 July 2019. The value …
Ferguson plc Appointment of Chairman Designate and Non Executive Director
Ferguson plc (LON:FERG) announced today that Geoff Drabble has been appointed as a Non Executive Director and will succeed Gareth Davis as Chairman after the 2019 Annual General Meeting, subject to shareholder approval. Gareth will step down as a Director in January 2020 to ensure an orderly handover of responsibilities. Geoff joins Ferguson following a 12-year period as Chief Executive …
Ferguson Plc Solid performance driven by strong revenue growth
Ferguson Plc (LON:FERG), today announced results for the year ended 31 January 2019. $m H1 2019 H1 2018 Change Change (at constant exchange rates) Organic change Statutory financial results Revenue 10,847 10,027 +8.2% Profit for the period attributable to shareholders 586 458 +27.9% Basic earnings per share 254.5c 183.3c Interim dividend per share 63.1c 57.4c +10.0% Alternative performance measures1 Ongoing …
Ferguson PLC Good organic growth in the US of 9.6 per cent
Ferguson PLC (LON:FERG), today announced interim management statement for the 3 months to 31 October 2018.
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Ferguson PLC (LON:FERG), today announced interim management statement for the 3 months to 31 October 2018. Ongoing businesses1 US$ millions Q1 2019 Q1 2018 Change Organicchange3 Revenue 5,554 5,117 +8.5% +6.7% Trading profit2 432 393 +9.9% Trading days 65 65 – Reported net debt to EBITDA 0.9x 0.5x First quarter highlights − Ongoing revenue 8.5% ahead of last year, … Ferguson plc (LON:FERG), the world’s leading specialist distributor of plumbing and heating products, today announced the pricing of an offering of $750 million (aggregated principal amount) of 4.5% senior unsecured notes due 2028. The Notes will be issued by a wholly-owned subsidiary of Ferguson plc and guaranteed by Ferguson plc and another wholly-owned Group subsidiary. The Offering is expected to close on 24 October 2018. The Group intends to use the proceeds from the Offering for general corporate purposes and to increase liquidity. The Group’s capital priorities and commitment to maintaining a strong balance sheet are unchanged. Mike Powell, Group Chief Financial Officer of Ferguson commented “We are pleased to have successfully priced our debut bond financing at 4.5%. This financing provides additional diversification to the Group’s debt structure whilst extending the maturity profile to support future growth.” | |||||