Wolseley Posts Increase In Profit

Wolseley PLC

reported a gain in its profit for the half year to January 31. Wolseley's pretax profit for the period surged to 316 million pounds ($521 million), versus a year-ago profit of GBP193 million. Its net profit climbed to GBP229 million versus GBP133 million, while revenue rose 3.2% on a comparable basis. Wolseley lifted its interim dividend by 25% to 27.5 pence. Wolseley shares closed at $5.52 yesterday.