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Pandemic-led U.S. home improvement demand boosts Ferguson annual profit

By Reuters

<div> <p> -London-listed plumbing supplies provider Ferguson Plc reported higher annual profit on Tuesday, as customers spent more on home improvement projects during the pandemic.</p> <p>Although the pandemic drove strong interest for home renovation across many western markets as people stayed indoors, U.S.-focused Ferguson said it expected demand to taper later this year.</p> <p>The company said underlying trading profit climbed 32% to $2.10 billion in the full year ended July 31.</p> <p>Revenue rose 14% to $22.79 billion, with the United States contributing more than 94%.</p> <p>The <span class="caps">FTSE</span> 100 firm declared a final dividend of 166.5 cents per share, making it a 15% jump in the total dividend for the year.</p> </div>