Ferguson Enterprises Inc. · NYSE:FERG
Ferguson Enterprises — Wolseley — Q1 FY2010 Earnings Presentation
7 slides from Ferguson Enterprises's earnings presentation, Nov 18, 2009
Slide 1: Interim management statement for the 3 months ended 31 October 2009
Wolseley plc Interim management statement for the 3 months ended 31 October 2009 The name The name the world the world builds onbuilds on
Slide 2: Overview
Overview • Market trends and trading environment remain in line with management expectations at the full year results announcement • Revenue from continuing operations down 13% to £3,395m, 20% in constant currency • Trading profit from continuing operations down 41% to £104m, 46% in constant currenc
Slide 3: North America
North America • North America revenue down 17% and trading profit down 44%. In constant currency c.24% and 49% lower respectively • Ferguson • Revenue in local currency down c.26% and underlying trading profit excluding property profits down c.47% • Commercial and Industrial market experienced furth
Slide 4: Europe
Europe • European revenue in sterling down c.10% and trading profit down by c.23%. In constant currency would have been c.16% and c.30% lower • UK and Ireland • Revenue down c13%, trading profit, excluding £5m of restructuring costs was up by c.17% due to benefits of cost reduction actions in the pr
Slide 5: Europe continued
Europe continued • France • Revenue down 17% and gross margin marginally down due to Brossette, while Heavyside held its gross margins • Management action continues to focus on lowering the cost base, implementing the social plans, repositioning the business towards renewable energy products and imp
Slide 6: Outlook
Outlook • Market conditions expected to remain challenging due to tight credit conditions and continued high unemployment • New Residential and RMI markets expected to move towards stabilisation. The majority of the Group’s Commercial and Industrial markets are likely to deteriorate further in the s
Slide 7: Q&A
Q&A Thename The name the builds the world worldonbuilds on