Wolseley is the world’s leading specialist distributor of plumbing and heating products. Wolseley brings together over 52,000 suppliers and 1.1 million professional contractors and domestic customers across Europe and North America, supplying them with over 1 million product lines.
Wolseley operates in four major geographic regions: the United States, United Kingdom, the Nordic region, and Canada and Central Europe.
Wolseley plc is registered in Jersey (company number 106605) and tax resident in Zug, Switzerland. Wolseley Group Services is based in Theale, near Reading in the UK.
We are a world leading distributioncompany and number one or two in most of our markets.
This is a people business. The quality, knowledge, dedication and service that our associates deliver to our customers and the longterm and enduring relationships they develop is a key differentiator.
Today we have a focused set of specialist distribution businesses operating in attractive markets with leading market positions. Scale, in supply chain, procurement, operations and technology is a strong source of competitive advantage. We continue to invest in these areas to maximise the benefits we can bring to service our customers and generate attractive returns.
Within our industry, long-term growth drivers remain attractive in all the geographic regions where we operate today. We predominantly serve repair, maintenance and improvement markets which are usually resilient through the economic cycle. The majority of our businesses operate in highly fragmented markets where there are good opportunities to generate organic growth and bolt-on acquisitions.
Wolseley’s goal is to deliver sustainable and profitable growth. Our objective for each business unit is to grow profitably, faster than our competition. We want to be the world’s best local specialist distributor of plumbing, heating and building materials products.
Our approach is based on a top down resource allocation process, to allow us to choose which businesses will give us best returns in the long term. In addition, we have developed bottom up detailed business strategies for each business unit to make sure we invest in the right projects and plans to deliver future growth at a local level.
- Priority one – generate the best profitable growth in Ferguson, our major US subsidiary. Ferguson has a clear strategy which we are executing rapidly and effectively. We will focus on accelerating revenue growth on a sustainable basis while continuing to generate attractive returns for shareholders. We will continue to target above market revenue growth supplemented by organic expansion and bolt-on M&A where we can generate valuable synergies.
- Priority two – execute UK turnaround and repositioning plan. In September 2016, we announced a new operational strategy focusing on the most attractive plumbing and heating categories. Going forward we will simplify our customer propositions; including one for smaller installers and one for medium and large specialist customers. At the same time we will lower the cost base and optimise the supply chain and branch network.
- Priority three – review Nordics operational strategy and restore the business to profitable growth. We have initiated a review of operational strategy in the Nordics to ensure that our strategy to drive the best service, grow market share and improve financial performance across the region is successful. We expect to conclude the reviewin the Spring of 2017.
We have 52,000 reputable suppliers manufacturing over one million products around the world. This gives us access to a diverse and broad range of quality products. Our leading market positions enable our central sourcing teams in each region to leverage our scale and negotiate competitive prices in return for access to our 1.1 million customers. We work with our suppliers to ensure that they are reliable and ethical and that their products are fully compliant with the laws and regulations of the countries they, and we, operate in. On the rare occasion that a product is faulty, customers have the confidence of knowing that we will support them. We conduct background checks on our suppliers for unethical or illegal behaviour.
We supply 1.1 million customers with over 1 million products carefully sourced from over 52,000 trade suppliers. Product availability is vitally important to our business so a highly efficient distribution network is key to delivering on our customers’ needs.
Wolseley’s three core values capture the essence of the company and drive how we think and act. We act with integrity. We drive for results and improvement. And we value our people. Our values are consistent across the Group and although our businesses may interpret them slightly differently, their principles have been discussed with all our employees.
Our name is well-known amongst our investor community. We are a member of the FTSE 100 leading companies in the UK.
Our name may not be universally familiar to the general public. This is because we operate mostly in the business to business or trade sectors. Our strong local brands – including Ferguson, Plumb Center, Stark and Tobler – are predominantly trade-only businesses. We are increasingly operating consumer e-Commerce business alongside our trade offerings. For example, Build.com is one of the leading online distributors of home improvement products in the USA. Collectively, we are one of the largest e-commerce businesses in the USA.