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Wolseley may exit French building materials business

Reuters - UK Focus

LONDON, Jan 22 (Reuters) - Plumbing supplies group Wolseley said on Thursday it was considerng exiting its remaining building materials business in France, where trading has proved tough.

The British company, which runs the Plumb Center and Ferguson chains in the United States and Britain, said the business generated revenue and trading profit of 577 million pounds ($873 million) and 7 million pounds respectively in the year ended 31 July 2014.

It had net assets of approximately 130 million pounds.

($1 = 0.6608 pounds) (Reporting by Kate Holton; editing by James Davey)