Ferguson : Rise in rates set to continue to weigh on the stock
>Operating profit marginally > consensus and cash returns to shareholders - Operating profit post-IFRS 16 for H1 2020-21 (closed end-January 2021) came in at $ 875m (vs $ 854m expected by the consensus). The group reported l-f-l growth of +3.6% in stable end-markets, after 3.3% in Q1, and -2.6% reported in Q4 (stable price effects in Q1). In the US, growth came to +3.4% after 3.3% in Q1 and -2.4% in Q4. Canada continues to improve at +7.9% in Q2 after +3.5% in Q1 afte...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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