Ferguson plc (FERG.L)

Ferguson raises dividend as profit jumps on U.S. home improvement demand

The London-listed company, which has a secondary U.S. listing, said half-year profit jumped 12.2% as residential operations sales recovered with housing activity picking up in the United States, its biggest market by revenue. Ferguson's performance followed its U.S. peers Home Depot and Lowe's Cos Inc, who have also benefited from stuck-at-home Americans snapping up building materials all through the COVID-19 lockdowns. Ferguson's underlying trading profit rose to $837 million for the six months ended Jan. 31 from $746 million a year ago.