Arab Today, arab today uk plumber wolseley profits slump 79
Last Updated : GMT 07:57:38
Arab Today, arab today
Arab Today, arab today

UK plumber Wolseley profits slump 79%

Arab Today, arab today

Arab Today, arab today UK plumber Wolseley profits slump 79%

London - AFP

Wolseley, the world\'s biggest distributor of plumbing and heating products, posted a 79-percent slump in annual net profits on Tuesday on exceptional charges but still found a way to pay a special dividend. Profit after tax tumbled to £57 million ($92 million, 71 million euros) in the 12 months to the end of July from £271 million in 2010/11, Wolseley said in a statement. The group said earnings were hit by impairment charges of £353 million relating to acquisitions between 2003 and 2007. Revenues grew 5.4 percent to £12.71 billion in 2011/12, while the company announced a special dividend of £350 million to reflect the group\'s underlying financial strength. The special payout was in addition to an annual dividend of 60 pence per share, up a third compared with the previous financial year. Wolseley chief executive Ian Meakins said the group would continue to reduce its cost base \"to protect profitability but also to make investments in our businesses that will improve the quality of our operations and generate growth in the future.\" He added in the statement: \"Whilst we remain cautious about the outlook for our markets, we are confident that Wolseley will make good progress in the year ahead.\" Wolseley repeated an announcement in July that it was exploring \"strategic options\" for its French business amid difficult trading conditions in Europe.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today uk plumber wolseley profits slump 79 Arab Today, arab today uk plumber wolseley profits slump 79

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today uk plumber wolseley profits slump 79 Arab Today, arab today uk plumber wolseley profits slump 79

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday