Wolseley says no plans to raise equity, net debt unchanged

Mon. September 22, 2008; Posted: 02:22 AM

LONDON, Sept 22, Sep 22, 2008 (Reuters via COMTEX) -- WOSLY | Quote | Chart | News | PowerRating -- Plumbing and heating materials distributor Wolseley Plc. said it has no plans to raise equity or renegotiate banking covenants, although those options remain should market conditions deteriorate dramatically.

Wolseley said it would focus on necessary cost cutting. It said full-year adjusted pretax profit came in at 527 million pounds ($961.8 million) and net debt remained virtually unchanged at 2.5 billion pounds.

(Reporting by Simon Meads; Editing by Quentin Bryar) ($1=.5479 Pound) Keywords: WOLSELEY/RESULTS tf.TFN-Europe_newsdesk@thomson.com ra

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