DT Group, the Nordic branch of Wolseley Group, with chains Stark, Beijer, Silvan and Neumann, reports a great quarter with 8.8 percent like-for-like growth.
”Market conditions were satisfactory in all Nordic countries except Finland which continued to be very challenging,” says the report.
The exchange rates are unfavourable for Wolseley, but the regional analysis reveals that the Nordic region grows with 12.2 percent at constant exchange rates. As acquisitions contributed 4.0 percent, the like-for-like growth in the third financial quarter ending 30 April is the best so far – even compared to strong figures from last year.
Looking at nine months trading performance the Nordic region has grown 11.5 percent. Lower gross margins due to impact from acquisitions and pricing pressure and higher operating costs still ends up in a trading profit in line with last year for Q3 (11 MGBP) but totally (33MGBP) lower than 2014 (42MGBP).