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Ferguson half-year profit rises on U.S. home improvement demand, raises dividend

March 16 (Reuters) - Plumbing and heating parts distributor Ferguson Plc raised its dividend and announced a share buyback on Tuesday after posting higher half-year profit, buoyed by cost control measures and strong home improvement demand in its biggest market, the United States.

The London-listed company, which has a secondary U.S. listing, said underlying trading profit rose to $837 million for the six months ended Jan. 31, 2021 from $746 million reported a year ago. (Reporting by Vishwadha Chander and Pushkala Aripaka in Bengaluru; Editing by Rashmi Aich)

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