December 3, 2019 / 7:25 AM / 2 days ago

Ferguson reports 9% rise in Q1 profit; Wolseley UK demerger on track

Dec 3 (Reuters) - Plumbing parts distributor Ferguson Plc reported a 9% rise in first-quarter profit on Tuesday, boosted by a rise in residential housing activity in the United States.

The company said the planned demerger of Wolseley UK was on track and is expected to be completed next year.

Profit rose to $451 million from $413 million in the three months ended Oct.31, from a year earlier. (Reporting by Yadarisa Shabong in Bengaluru; Editing by Sriraj Kalluvila)

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