
Wolseley, the world's biggest distributor of plumbing and heating products, said Tuesday it will explore "strategic options" for its French business amid difficult trading conditions in Europe. "Wolseley's strategy is to focus on businesses where it can establish leading positions in attractive markets and consistently generate good returns for shareholders," the company said in an official statement. "In this context, we have decided to explore strategic options for the future of our businesses in France." The group was continuing to experience "difficult market conditions in continental Europe". Wolseley said that its French business generated revenues of £1.3 billion in the group's financial year to the end of July 2011, and employed net assets of approximately £500 million. It added: "In light of this review the appropriate carrying value of these assets will be assessed at year-end and this is likely to give rise to a non-cash impairment charge. "This announcement is being made in order to enable us to commence consultation with our employees in France."
GMT 22:53 2018 Thursday ,13 December
Indian Minister of Trade meets with UAE Ambassador, Chairman of Emaar PropertiesGMT 13:41 2018 Thursday ,06 December
Tyre maker Continental opens lab to extract rubber from dandelionsGMT 15:23 2018 Friday ,30 November
Paper industry around famous Chinese lake to be shut down by 2019GMT 11:13 2018 Sunday ,18 November
Electricx 2018 kicks off with participation of over 20 countriesGMT 16:34 2018 Tuesday ,13 November
Amazon announces new headquarters in New York and WashingtonGMT 16:51 2018 Monday ,12 November
Egypt's exports to Nile basin countries reached EGP 19.9 bln in 2017: CAPMASGMT 08:11 2018 Friday ,09 November
Kaspersky Lab CEO suggests replacing cybersecurity with 'cyber-immunity'GMT 14:00 2018 Thursday ,08 November
Namibian enterprise endeavours to seize opportunities at China import expoMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor