Wolseley PLC (WOSYY.PK)
Heating and plumbing products supplier Wolseley forecast annual profit in line with expectations after posting a higher quarterly profit, banking on U.S. growth to continue offseting weakness in increasingly challenging UK and European markets.
Heating and plumbing products supplier Wolseley plans to close just over 10 percent of its UK branches in response to tough competition and weak trading, it said on Tuesday, a move that could lead to up to 800 job losses and create a more U.S.-focused firm.
* Shares fall as much as 4.7 pct, stock top FTSE 100 loser (Adds company, analyst comments, details)
Sept 27 Heating and plumbing products supplier Wolseley said on Tuesday it would close 80 UK branches and a distribution centre, leading to up to 800 job losses, as it looks to streamline its UK business, which has been facing tough competition.
* FY revenue 4.2 pct ahead of last year at constant exchange rates, including like-for-like growth of 2.4 pct