Stronger US revenues help offset weak Eurozone demand for Wolseley

STRONGER first quarter sales in the US and Canada have compensated weakened domestic and Eurozone demand for Midland-based plumbing and heating group Wolseley.

The Leamington Spa group said the period saw it generate revenue of £3,325m, 2.1% up on the same quarter last year, while trading profit was up 7.6% to £198m (2011: £52.3m).  Continued strong cash generation helped to reduce debt levels to £87m (2011: £523m).

The group’s US region saw revenue growth of 7.1%, while in Canada there was a 3.1% ... For the full story register now for free or login below...