March 27, 2018 / 6:36 AM / a year ago

UK's Ferguson posts 15 pct rise in H1 profit on strength in U.S. business

March 27 (Reuters) - Heating and plumbing products supplier Ferguson Plc on Tuesday reported a 15 percent rise in first-half trading profit, helped by strength in its main U.S. market.

However, the company flagged challenging plumbing and heating markets in the UK.

The company said ongoing trading profit rose to $698 million for the half year ended Jan. 31, from $607 million a year earlier.

"The group delivered a strong trading performance in the first half driven by good growth and margin progression in the USA," Ferguson said.

The U.S. business accounts for 79 percent of Ferguson's revenue. (Reporting by Radhika Rukmangadhan in Bengaluru; Editing by Subhranshu Sahu)

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