UK and global merchanting group Wolseley plc has recorded a 26.5% growth in trading profits for the five months ended December 31, 2003, the company said in its regular trading update.
Wolseley, which runs the Builder Center and Timber Center chains in Britain, said sales for the period were up 25.2% on the comparative period in 2002.
The company said the UK has been the most positive of its European markets with strong demand in the repair, maintenance and improvement sector. Despite weak industrial and commercial markets, it recorded double-digit sales and trading profits growth, with organic growth of more than 6%.
Wolseley said the trading margin maintained the upward trend of the second half of the last financial year.
Wolseley group chief executive Charlie Banks said: “The underlying performance of the group remains strong, demonstrating the resilience of our business arising from our wide geographic spread and broad product base.”
