By Chris Bailey | Tuesday 1 October 2019
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
From my larger cap perspective, a slightly dull regulatory news disclosure crop for the first two days of the business week. I see the plumbing and heating systems company Ferguson (FERG) - whose decision to spin-out its small UK business I supported a few weeks back - puckered up its full-year results which showed between 6-8% growth at both the revenue and profit level, led by the US business (which accounts for around 90% of overall turnover). Despite this, a 10% rise in the full year dividend and comments observing it is 'well-placed' for 2020, at sixty quid a share I cannot get excited – even if it is doing the right thing with the UK business. Otherwise, I have to make a rare analytical foray into the AIM cesspit…
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