Ferguson Fiscal Year 2021 Pretax Profit Rose; Expects Fiscal Year 2022 2nd Half Tapering
September 28 2021 - 2:52AM
Dow Jones News
By Sabela Ojea
Ferguson PLC reported on Tuesday a rise in pretax profit for
fiscal 2021 and said that, even though it expects its current
financial year to be strong, it also anticipates a tapering in the
second half on tougher comparatives.
The supplier of plumbing and heating products posted a pretax
profit for the year ended July 31 of $1.89 billion compared with
$1.29 billion for the same period a year earlier.
Revenue increased to $22.79 billion from $19.94 billion for the
year prior. Revenue had been expected at $22.51 billion, according
to a company-compiled consensus.
Organic revenue grew 24% in the fourth quarter, the company
said.
Trading profit--one of the company's preferred metrics, which
excludes exceptional and other one-off items--stood at $2.18
billion, up from $1.66 billion. It had been anticipated to be $2.10
billion, according to the company-provided consensus.
The board raised its dividend 15% to 239.4 cents.
"Given the strong momentum in the business and the agility of
our business model, we are well positioned to have a year of good
growth and the board continues to look forward to the medium term
with confidence," Chief Executive Kevin Murphy said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
September 28, 2021 02:37 ET (06:37 GMT)
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