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Plumbing company Ferguson raised its full-year expectations after reporting a rise in first-quarter sales.
Net sales rose 26.6% to $6.80 billion year-on-year in the first quarter and gross margins were up 1.7% to 31.3%.
'Supportive end markets and continued market share gains drove substantial sales growth,' the company said.
Looking ahead, the company said that while it continued to expect a tapering of growth in the second half on tougher prior year comparatives, its full year expectations had increased given 'strong' momentum in the business and the agility of its business model.