Shares in Ferguson (FERG) fell by around 10 per cent after the world’s largest trade distributor of plumbing and heating products warned that organic growth in the second half of the year to July 2019 will be between 3 and 5 per cent, compared with 6.5 per cent in the first six months to January 2019. This means that profits for the full year will be at the lower end of analysts’ expectations.
IC TIP:
Hold
at
4615p