Ferguson up 14.3% in fiscal 2021
Ferguson PLC, (NYSE: FERG), based in Wokingham, UK, announced on Tuesday that its revenue for fiscal 2021 increased 14.3% from a year ago to 22 , $ 79 billion. Ferguson said the increase was mainly due to accelerating market share gains.
Ferguson’s underlying trading profit for the year ended July 31 was $ 2.1 billion, a 32 %% increase from a year ago. Earnings per share were 688.1 cents, up from 508.0 cents last year.
“We are pleased with the earnings growth which far outpaced revenue growth to provide robust operating leverage and margin, demonstrating the agility of our business model,” said Kevin Murphy, Managing Director of Ferguson. “Cash generation has been strong as we have continued to invest in the availability of inventory to serve our customers, while our balance sheet remains strong. We welcomed talented people from seven acquisitions as we continued to consolidate our fragmented markets.
“We expect a year of good growth overall, but we expect a decrease in the second half of the year compared to more difficult comparisons from the previous year. We recognize that the recent favorable winds of inflation on gross margins may abate, but for the whole of the coming year, we expect that operational improvements will more than offset the headwinds of inflation in the region. cost basis. Given the strong momentum of the company and the agility of our business model, we are in a good position to experience a year of good growth and the Board continues to look to the medium term with confidence.
Also on Tuesday, Ferguson announced plans for a further $ 1 billion buyout. Based on its strong results, Ferguson increased its total dividend by 15% to 239.4 cents per share, from 208.2 cents a year ago.