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Profits down at Wolseley (Dan H.)

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DanHolohan
DanHolohan Member, Moderator, Administrator Posts: 16,528
is the parent company of Ferguson.
Retired and loving it.

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  • DanHolohan
    DanHolohan Member, Moderator, Administrator Posts: 16,528
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    Reflecting the current state of the U.S. housing market

    Wolseley profits down
    Retired and loving it.
  • Ken_40
    Ken_40 Member Posts: 1,320
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    Down?

    I suspected part of the downturn (stated as 3% lower) may have been atributed to the fact that the Pound Sterling is now over twice the dollar, and has risen over 3% in the time frame - creating the anomoly implied. Then I found the company is Brit, not American. They just bought someone in Canada to have a NA "presence."

    And yes; profits were down, but sales were up! "Revenue was up 14.6% at £16.2bn." Hardly relevant to the US housing market, which would have BOTH profits and sales down, not up.


    Is this the company you refer to or - or is there a Wolseley that is not a Brit corp you refer to - and that I missed?

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  • Steve Ebels_3
    Steve Ebels_3 Member Posts: 1,291
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    Tell us something we didn't know

    We've done a grand total of one (1) new residence this year.
  • DanHolohan
    DanHolohan Member, Moderator, Administrator Posts: 16,528
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    Further info

    Bloomberg
    Retired and loving it.
  • Mike Reavis_2
    Mike Reavis_2 Member Posts: 307
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    about 6 months ago, I looked at their stock chart

    and would have sworn they were poised for a significant uptick. I passed, and bought other stock that did well. Except for Hovnanian, who was pressed down, and seeminly poised for a steady rebound. I bought around 20--now its down to 10. I did manage it on the way down, and if things stay stable, I should be profitable in a month or two. Only thing to do with Woseley is to sell it short. Jim Cramer likes EMC and BAC.

    I heard today that the local HVAC house that Ferguson owns laid-off some warehouse staff that they hired in 06' because business was so brisk.
    Mike
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