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Ferguson profit misses consensus by 17.8% in fiscal H1

Wolseley PLC said its normalized net income for the fiscal first half ended Jan. 31 amounted to £1.12 per share, compared with the S&P Capital IQ consensus estimate of £1.36 per share.

EPS increased 23.8% year over year from 90 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £282.5 million, an increase of 22.3% from £231.0 million in the prior-year period.

Total revenue grew 24.5% year over year to £8.46 billion from £6.79 billion, and total operating expenses rose 24.6% year over year to £7.99 billion from £6.41 billion.

Reported net income declined 20.8% year over year to £210.1 million, or 83 pence per share, from £265.1 million, or £1.04 per share.