Ferguson sees 2019 profit in line with estimates, to repurchase shares

(Reuters) - British plumbing products distributor Ferguson Plc said on Monday it expects ongoing trading profit for the year to be in line with analysts' expectations, and announced a $500 million share buyback programme.

The company, formerly known as Wolseley, said in March it expected full-year trading profit at the lower end of analysts' estimates. Analysts' consensus forecast for 2019 trading profit is currently about $1.59 billion, it said.

(Reporting by Yadarisa Shabong and Justin George Varghese; Editing by Saumyadeb Chakrabarty)