Plumbing and heating wholesaler sees decline in UK revenue while US business picks up
UK revenue at plumbing and heating product wholesaler Wolseley declined by 1% in the half year to 31 January while all other markets grew by at least 4%.
The wholesaler saw UK revenue fall from £858m in the six months to 31 Jan 2011 to £852m for the same period in its 2012 financial year.
The firm said the heating product market was suffering more than other product areas in the UK.
The USA was the best performing market, growing 11%.
Ian Meakins, chief executive of Wolseley, said: “Like-for-like growth trends for the group since the end of the period have been slightly lower than the first half overall with the US a little better and Europe a little weaker.”