1st Oct 2013 06:29
LONDON (dpa-AFX) - Plumbing and heating products distributor Wolseley Plc. (WOSCF.PK, WOS.L, WOSYY.PK) reported that profit before tax for the year ended 31 July 2013 increased to 473 million pounds from 198 million pounds in the prior year.
Profit for the year attributable to shareholders of the company jumped to 305 million pounds from the previous year's 57 million pounds, with earnings per share significantly improving to 109.6 pence from 19.9 pence last year.
The company stated that Impairments and exceptional charges of 174 million pounds were incurred which principally related to restructuring in Continental and North Europe, compared to 377 million pounds last year. The normal amortisation charge in relation to the Group's acquired intangible assets was 55 million pounds, compared to 60 million pounds.
Headline earnings per share grew to 180.1 pence from 166.7 pence in the previous year.
Annual revenue declined to 13.15 billion pounds from 13.42 billion pounds last year. The company noted that its board will recommend a final dividend of 44 pence per share (2012: 40 pence per share) for payment on 2 December2013 to shareholders on the register on 11 October 2013. This brings the total dividend for the year to 66 pence per share (2012: 60 pence per share), which is a year-on-year increase of 10%.
The company said that revenue growth rates in the new financial year have been similar to the fourth quarter of last year.
Copyright RTT News/dpa-AFX
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