Ferguson : Towards a period of weaker growth
>Earnings a shade below expectations - Q2 2018 operating profit 0.8% below expectations. Operating profit came in at $Â 744m vs ($Â 750m for the consensus and $Â 740m for ODDO BHF). The group has published l-f-l growth of 6.3% in line with Q1 at +6.7% after +8.1% in Q4 and 7.1% in Q3 (consensus at 6.9%). Growth clearly stalled in February/March. In the US, growth reached 9.7% in Q2 after 9.6% in Q1, 11.4% in Q4 and 10.6% in Q3 (including a price effect of around 3%). In ...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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