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HOW SERIOUS IS THE FALL IN PROFITS AT WOLSELEY ?

MICK GILIGAN | KILLIK & CO
The financial position of the business improved at the last full year stage in July, with net debt down to £959m. This has improved further to £910m.

ALAN CLARKE | BNP PARIBAS
There are definitely signs that the housing market is cooling off. After an initial sugar rush of cash-rich buyers it is now buyers relying on credit in the market.

CAROLINE DE LA SOUJEOLE | SEYMOUR PIERCE
These results are in line with our full-year expectations for £13,381m of revenue and trading profit of £340m. Good progress has been made on cost reductions.