Wolseley Climbs as U.S., Nordic Region Demand Bolster RevenueAndrew Noel
Wolseley Plc, a distributor of building materials and bathroom supplies, climbed in London trading after improved demand in the U.S. and Nordic region bolstered sales.
Revenue increased 5.1 percent to 3.05 billion pounds ($5.1 billion) in the third quarter, the company said today in a statement. Shares of Wolseley climbed 1.8 percent to 3,368 pence in London trading as of 8:08 a.m.
“The group grew its gross margin and controlled operating expenses to generate good conversion into trading profit, though reported results were affected by significant unfavorable foreign exchange rate movements,” Wolseley said.