LONDON (Reuters) - Heating and plumbing products supplier Wolseley (L:WOS) said its growth had slowed in recent weeks, reflecting subdued demand in some markets, and in response it would further restructure in Britain and Europe.
The company said like-for-like revenue growth since April 30, the end of its third quarter, had slowed to 1 percent from 2.8 percent in the previous three months.
It said total costs for restructuring for the year would now be about 20 million pounds, but trading profit, excluding the additional costs, would be in line with market expectations.
Third-quarter trading profit grew 12.2 percent at constant exchange rates to 230 million pounds on revenue of 3.66 billion, up 5.9 percent on the same measure, it said on Wednesday.