Wolseley plumbs depths in the UK
Plumbing and heating merchant Wolseley revealed higher profits as a strong performance in its US arm overshadowed its UK division.
The business reported a 3% like-for-like decline in revenues in the UK for the six months to January 31. Its US division recorded a 9% surge. Wolseley reported a 28% jump in pre-tax profits to £250m, as revenues rose 3% to £6.8bn.