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Chief Executive Chip Hornsby has described to analysts how the company is planning to operate in seeking to continue its double-digit sales growth for the future.

 

In a presentation detailing the company's latest record set of financial results - the tenth consecutive year of record growth - Chip, who has 28 years with the company, and who took over as Chief Executive last month, called his business model the "Wolseley Way".

 

Chip said:  " We have a simple business model which through leadership in the key focus areas will provide our operations with significant competitive advantage. If you have the product available when the customer needs it, price becomes a secondary issue. Our local operations will have talented and customer focused employees and we will, by the service we offer, win and retain a loyal customer base. This will drive our growth and as we improve efficiency our margins will rise.

 

"So what are my objectives for this company in the immediate future?  Utilising our scale, size and leadership we are committed to delivering double digit sales growth – with a continued emphasis on margin improvement. And we will continue to drive shareholder value. The new leadership structure is designed to really allow us to build on our experience and our scale. 

 

"So in summary we have a great track record. We have had another great year. We are now making sure we have the right focus and execution to make sure we take advantage of the huge growth opportunity that is available. We are committed to being ‘the name the world builds on’ – and I am confident we can do it." he added.

 

The full text of Chip's presentation can be seen in the pdf document attached.