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04
Jan
Major Ripon employer publishes financial results
Turnover and profit at plumbers’ merchants Wolseley fell in the year ending July 31, 2024, according to its latest annual accounts.
Wolseley, which is based in Warwickshire but employs about 250 staff at a support centre on Boroughbridge Road in Ripon, posted revenue of £1,794 million. This was down by £76 million, or 4%, on 2023.
Pre-tax profit fell from £73 million to £34 million, which the company attributed to sales decreases in declining markets.
The total number of employees decreased by just eight to 4,712.
The annual report and financial statements that accompanied the accounts listed the transition to net-zero as one of the company’s principal risks.
It said:
The UK government's commitment to achieve net-zero carbon emissions will have a significant impact on the products that the company sell, as demand and consumer preferences for heating and cooling products will change.
The goal to move away from fossil fuel-based heating systems to low carbon alternatives will require retrofitting 28 million homes and five million businesses with new heating and cooling technology, as well as upgrading the power networks and ensuring that infrastructure si resilient to extreme weather events.
Wolseley provides plumbing, heating and cooling products for traders.
Trading under various brands, it operated 527 branches in 2023/24, compared with 544 the previous year.
Local branches are based at Hookstone Chase in Harrogate and Dallamires Way in Ripon.
Besides its branches, Wolseley runs support centres in Ripon and Warwick and four distribution centres.
The company acquired air conditioning and heat pump distributor Logicool during the financial year for £4.9 million.
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