Pandemic-led U.S. home improvement demand boosts Ferguson annual profit By Reuters
(Reuters) -London-listed plumbing supplies provider Ferguson Plc reported higher annual profit on Tuesday, as customers spent more on home improvement projects during the pandemic.
The pandemic caused strong demand for home improvement in many Western markets, but Ferguson Plc, a U.S.-focused company, said that it expects the market to slow down later this year.
According to the company, underlying trading profits climbed 32% and reached $2.10 Billion in the year ending July 31.
Revenue rose 14 percent to $22.79 billion. The United States contributed over 94%.
The firm declared a final dividend of 166.5 cents per share, making it a 15% jump in the total dividend for the year.
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