UK and US to the rescue for Wolseley

STRONG growth in the UK and United States helped building materials group Wolseley offset crumbling construction markets in Europe as third-quarter profits increased.

By The Newsroom

Published 5th Jun 2013, 01:01 BST

The Leamington Spa-based group, which achieves 14 per cent of its sales from UK businesses such as Plumb Center, Pipe Center and Drain Center, said trading profits grew 7.9 per cent to £150m in the three months to end of April.

Underlying sales growth of 5.2 per cent in the UK and 8.3 per cent in America compared with steep falls in Europe and helped overall group like-for-like sales increase 2.4 per cent.

The group said it saw similar trading in May, with the US and UK growing well while markets remained challenging in Europe. Wolseley’s UK growth was driven by its Plumb and Parts Center brands, but Pipe and Climate Center struggled amid weaker industrial markets. The group said the integration of 22 recently-acquired Burdens drainage supplies depots is going well.

Wolseley employs around 360 staff at its site in Ripon, North Yorkshire

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