Ferguson PLC, Wokingham, United Kingdom, reported sales of $10.3 billion for the first half of fiscal year 2021, up 4.2% compared to the same period a year ago. Trading profit of $875 million marked a 12% increase from the year-ago period.
The company said it invested $224 million in acquisitions during the first half of fiscal 2021, restarting an M&A strategy it had paused when COVID hit last spring. Read more about Ferguson’s approach to M&A from our blog last December.
“Ferguson delivered good top-line growth in the first half and despite challenging personal and professional circumstances, our associates continued to deliver for our customers,” said Kevin Murphy, group CEO. “We continued to carefully manage the cost base to ensure excellent profit growth and solid cash flow generation. We remain confident in our strategy and are optimistic about our prospects in 2021 and beyond.”
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