Wolseley build on economic recovery as revenue rises

Mulitnational building company Wolseley has seen a like-for-like revenue increase of 3.5 per cent reaching £3.4bn for the three months to 31 October.

USA like-for-like revenue growth stood at 7.6 per cent as key businesses continued to take market share.

Revenue of the ongoing businesses was 7.4 per cent ahead of last year while trading profit rose by nine per cent £218m on the same period a year ago.

Chief executive, Ian Meakins, said:

Wolseley has continued to generate good revenue growth in the USA and the UK, although like-for-like revenue declined in the other countries as a result of continued tough market conditions.