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Oct 1 2019, 08:00 IST/BST
Ferguson
Full year results ahead, aided by tight cost control
- Sectors : Builders Merchants
- Companies : Ferguson
DAVY VIEW
Ferguson’s results were slightly ahead of our estimates as management’s execution on cost delivered a strong margin performance. Trading remains subdued with organic sales up just 2.1% in Q4, not helped by continued weakness in Canada. That suggests little change to market estimates. There were no new developments besides, with progress ongoing on the UK demerger and the Board continuing to review the listing structure.
