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Wolseley grows in the US

Wolseley delivered an encouraging first-half performance thanks to a better trading climate in the US, where the plumbing and heating supplier is gaining market share. But this was offset to some extent by continued weakness in European markets, where there is little prospect of a recovery in the near term. And until Europe recovers, scope for a further re-rating of the shares looks limited.

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By Jonas Crosland,
27 March 2012

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