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U.K.-based Wolseley, which will soon rebrand itself as Ferguson, reported 2017 third quarter fiscal sales of $5.39 billion, up 17 percent year-over-year for a total profit of $320.5 million, an increase of 9.5 percent.
The corporate parent of Ferguson Enterprises reported Q3 U.S. sales of $3.79 billion, up 24 percent year-over-year overall. Profit of $286.4 million increased 11 percent.
“The growth in the U.S. is very broadly based,” said chief executive John Martin in a press release. “Residential is our biggest market, then commercial, then industrial. “There are no real areas of the weakness across the U.S. The economy is in decent shape and you can see that from the unemployment figures being at pretty low levels. It would be great if we could see these economic conditions continuing.”
In other news, Wolseley's Q3 U.K. sales of $648.4 million decreased 4 percent overall; Nordic sales of $610.7 million increased 6 percent; Canada and Central Europe sales of $349.5 million increased 7 percent.
Wolseley announced its rebranding plans last March. On July 31, the company will officially change its name to Ferguson.