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Wolseley to issue trading update

Builders merchants Wolseley are to issue a their pre-close period trading statement for the 11 months ending June 30 2008 on Wednesday.

 Wolseley to issue trading update

The UK’s largest builders merchant chain has been subject to speculation about future job losses following the steady fall in their share price.

The company are heavily exposed to the housebuilding markets both in the UK and the United States, both of which are suffering massive slowdowns and job losses.

On Friday June 27 Wolseley was the FTSE 100’s biggest faller as shares went from 404p to 388p. They have continued to fall and stood at 292p this morning.

The company have already announced a number of cost-cutting measures with further action expected to be taken in the European businesses by the end of this month.

About Fiona Russell-Horne

Fiona Russell-Horne
Editor-in-Chief across the BMJ portfolio.

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