Wolseley to reinstate dividends at interim stage next year

Graham Spooner, investment adviser at The Share Centre, explains why Wolseley is a ‘hold' for investors, despite a proposed dividend return and an upbeat year end.

The second half of the year saw an improvement in like for like revenue growth, continued cost cutting and a strategy to protect gross margins, all of which delivered results ahead of expectations.

After a series of changes at Wolseley the company appears to be heading in the right direction, with a stabilised share price.  We currently maintain our hold stance.