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Wolseley considering exiting French building materials business

Plumbers merchant group Wolseley has announced it is exploring the option of exiting its remaining building materials business in France.
In the year ended 31 July 2014 the business generated revenue and trading profit of £577 million and £7 million respectively and had net assets of approximately £130 million.

A company statement said: “The Group continues to apply disciplined resource allocation principles to all of its businesses and has decided to explore exit options for its remaining building materials business in France.”

The building materials business in France comprises of Réseau Pro, which sells building materials, roofing, insulation, timber and flooring, and Panofrance, focused on timber, panels and interior design.

About Fiona Russell-Horne

Group Managing Editor across the BMJ portfolio.

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