Wolseley profit slips

Plumbing merchant Wolseley said half year profit slipped as a strong performance in the US was outweighed by weakening demand in Europe and Canada.

Plumbing merchant Wolseley said half year profit slipped as a strong performance in the US was outweighed by weakening demand in Europe and Canada.

Pre-tax profit slipped to £199m for the half year to January 31st 2013 from £250m the same time a year earlier. Revenue for the period fell to £6.3bn from £6.8bn before but like-for-like (LFL) revenue increased 2.2%.

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