Q3 2019 Ferguson PLC Interim Management Statement Call Transcript
Good day, and welcome to the Ferguson's Q3 trading update conference call. This conference is being recorded. At this time, I would like to turn the conference over to John Martin. Please go ahead.
Marian, thank you very much, and good morning, everybody. Welcome to the Ferguson conference call this morning covering our third quarter results for 2019. You've got me, it's John Martin here. And I've got Mike Powell, CFO; and Mark Fearon here with me as well.
Look, let me give you an overview of the results as I see them then Mike will give you more detail on operations and cash, and then I'll cover how we're seeing the markets.
Firstly, overall, we grew revenue by just over 6%, including just under 3% organic growth. That's lower than the first half, which we talked about at interim. And it's clear that our markets have slowed, though the Q3 growth rate should be seen, I think, in comparison with the very strong growth in the same period last year, and I'll come back
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