- Plumbing company Ferguson said performance had steadied in the fourth quarter, as lockdown measures eased.

For the period from 1 May 2020 to 21 July 2020, revenue fell 3.6%, compared with a 15.3% fall in April.

'Revenue trends have improved in both Canada and the UK as widespread lockdown restrictions have started to be eased. In the UK recent revenue trends have been more encouraging as lockdown measures have been eased,' the company said.

'Our actions to reduce the cost base will ensure that the business is better positioned for the medium-term economic environment. Ferguson has a strong balance sheet with good liquidity and the group remains well positioned to deliver consistent outperformance,' it added.

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