Wolseley plc, the merchanting group which includes the Builder Center and Timber Center chains, has reported double-digit sales growth in the UK for the past 11 months.
In its regular trading statement the company said the repairs, maintenance and improvement market remained strong. Second-half trading margins are “well up” on the same period last year but are unlikely to be enough to restore margins as a whole to the level of 2002.
Sales and trading profits for the 11 months ended June 30 are up by 7.1% and 2.7% respectively, but because two-thirds of the business is in North America currency translation reduces the sales figure to a modest 1.4%.
Wolseley will release its preliminary results for the year ending July 31 on September 23.
