Ferguson : In the US we trust
>Good-quality H1 2019-20 results - Operating profit 5% ahead of expectations. Operating profit post-IFRS 16 for 2019-20 (year to end-July 2020) came in at $ 1.663bn (vs $ 1.585bn expected by the consensus). The group reported l-f-l growth of -2.6% in Q4, a slight slowdown compared with the -1.7% reported in Q3 and after +1.6% in Q2. In the US, it came to -2.4% in Q4, after -1.0% in Q3 (after +2.6% in Q2 and +3.1% in Q1). Canada declined by 5.6% in Q4, i.e. a normalise...Ferguson is a holding company. Through its subsidiaries, Co. is a distributor of plumbing and heating products in the U.S. Co. operates nationally serving the residential, commercial, civil and industrial markets. Co. operates seven business units in the U.S.: Blended Branches, which provides plumbing and heating solutions ; Waterworks standalone, which distributes pipe, valves and fittings, hydrants, meters and related water management products; B2C e-commerce, which sells directly to consumers via websites using the product range and distribution network of the Blended Branches business; as well as Other, which comprises industrial standalone, fire and fabrication, and facilities supply.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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