June 20, 2017 / 6:22 AM / in 7 months

Wolseley reiterates full-year forecast after quarterly profit rise

June 20 (Reuters) - Heating and plumbing supplier Wolseley forecast full-year trading profit in line with market expectations, as it reported a 9.5 percent rise in third-quarter profit on the back of sales growth in all its regions except the UK.

The company said trading profit restated to exclude some exceptional restructuring costs rose to 254 million pounds ($324 million) in the three months ended April 30, from 232 million pounds a year earlier.

Wolseley, set to change its name at the end of next month to match its U.S. brand Ferguson Plc, said revenue grew 16.7 percent to 4.27 billion pounds. Like-for-like revenue grew 6.6 percent, ahead of the 3.2 percent comparable growth reported in the first half.

“Since the end of the period revenue growth has been broadly in line with the third quarter, gross margins and cost control have been good,” Chief Executive John Martin said in a statement on Tuesday. ($1 = 0.7848 pounds) (Reporting by Esha Vaish in Bengaluru; Editing by Amrutha Gayathri)

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