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Wolseley profits up to £155m

PLUMB Center and Pipe Center owner Wolseley has boosted its third quarter profits despite weak conditions facing parts of its UK business.

The building supplies group said sales into the home maintenance market, which represents 60 per cent of its British business, remained modest while UK industrial markets were weak.

Revenues fell 2.8 per cent to £451 million in the third quarter to April 30 but trading profit lifted 9.1 per cent to £155 million on the back of strong growth in the United States and Nordic regions.

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