Profits down at Wolseley (Dan H.)

DanHolohan

is the parent company of Ferguson.

DanHolohan

Reflecting the current state of the U.S. housing market

Wolseley profits down

Ken_40

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?

To Learn More About This Professional, Click Here to Visit Their Ad in "Find A Professional"

Steve Ebels_3

Tell us something we didn't know

We've done a grand total of one (1) new residence this year.

DanHolohan

Further info

Bloomberg

Mike Reavis_2

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