Ferguson PLC Impact of US Tax Reform Legislation (8004B)
January 15 2018 - 1:00AM
UK Regulatory
TIDMFERG
RNS Number : 8004B
Ferguson PLC
15 January 2018
15 January 2018
FERGUSON PLC
Impact of US Tax Reform Legislation
Ferguson plc notes the enactment of the Tax Cuts and Jobs Act in
the US. This gives rise to a beneficial impact on the Group's after
tax earnings, principally due to the reduction of the US federal
corporate income tax rate, effective 1 January 2018.
We estimate a Group effective tax rate of approximately 25% for
the current financial year ending 31 July 2018, a reduction from
previous guidance of 28%.
On an ongoing basis we expect the Group's effective tax rate to
be in the range 21% to 22%.
Cash tax payable in each year is expected to reduce broadly in
line with the income statement reductions. There will be no
material one-off charges or credits as a result of the change in
tax rate.
For further information please contact
Ferguson plc
Mike Powell, Group Chief Financial +41 (0) 41 723
Officer Tel: 2230
Nick Hopkins, Investor Relations +44 (0) 7775
Manager Mobile: 612159
Media Enquiries
Mike Ward, Head of Corporate +44 (0) 7894
Communications Mobile: 417060
+44 (0) 20 7404
Nina Coad (Brunswick) Tel: 5959
Notes to editors:
Ferguson plc is the world's largest specialist trade distributor
of plumbing and heating products to professional contractors
principally operating in North America and the UK. Ongoing revenue
for the year ended 31 July 2017 was $18.8 billion and ongoing
trading profit was $1.3 billion. Ferguson plc is listed on the
London Stock Exchange (LSE: FERG) and is in the FTSE 100 index of
listed companies. For more information, please visit
www.fergusonplc.com.
-ends-
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFMGMMNZZGRZM
(END) Dow Jones Newswires
January 15, 2018 02:00 ET (07:00 GMT)
Ferguson (LSE:FERG)
Historical Stock Chart
From Apr 2024 to May 2024
Ferguson (LSE:FERG)
Historical Stock Chart
From May 2023 to May 2024
