June 10, 2019 / 6:21 AM / 7 days ago

Ferguson sees 2019 profit in line with estimates, to repurchase shares

June 10 (Reuters) - British plumbing products distributor Ferguson Plc said on Monday it expects ongoing trading profit for the year to be in line with analysts’ expectations, and announced a $500 million share buyback program.

The company, formerly known as Wolseley, said in March it expected full-year trading profit at the lower end of analysts’ estimates. Analysts’ consensus forecast for 2019 trading profit is currently about $1.59 billion, it said. (Reporting by Yadarisa Shabong and Justin George Varghese Editing by Saumyadeb Chakrabarty)

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