Wolseley Q3 Earnings Rise

reported an increase in its earnings for the third quarter. Its trading profit on continuing operations, before items, rose 29 percent to 195 million pounds ($297.27 million), versus GBP151 million, in the year-ago period. Its revenue from ongoing businesses gained 17 percent to GBP3.30 billion from GBP2.83 billion. Revenue rose 25 percent in the U.S., while revenue in the U.K. rose 13.3 percent. Ian Meakins, Chief Executive, said, "Like-for-like revenue growth continued to be good and we outperformed the market in all key regions." Wolseley shares fell 0.48 percent to close at $6.18 yesterday.