ANALYST VIEWS: IS WOLSELEY HEADING IN THE RIGHT DIRECTION?
TONY SHEPARD | CHARLES STANLEY
“The group is finishing the year on a strong note and it is still undergoing a transformation. There was no comment from the company on further disposals. Longer-term, there should be opportunities to improve the group profit margin. Our recommendation remains “accumulate”.”
ADRIAN KEARSEY | EVOLUTION SECURITIES
“Welcome news on top-line like for likes and earnings, which is likely to be well received by investors. However, earnings forecasts are unlikely to materially change and we retain our “neutral” recommendation on valuation grounds..
There was no mention of the rumoured sale of Build Centre.”
KEITH BOWMAN | HARGREAVES LANSDOWN
“On the downside, underlying costs have risen, the termination of government sponsored stimulus schemes has made year-on-year comparatives more difficult. However, with the shares having outperformed the FTSE 100 index by over 60 per cent the market consensus opinion denotes a strong “hold”.”