The company, which operates the Plumb Center and Ferguson chains in the United States and Britain, on Tuesday reported trading profit of 761 million pounds on a constant foreign exchange basis for the 12 months ended July 31.

Analysts had expected a trading profit of 750 million pounds, according to a company-supplied consensus forecast.

Wolseley proposed to pay a final dividend of 55 pence per share, bringing its full-year total to 82.5 pence per share, 25 percent higher than last year. It also said it would launch a 250 million pound share buy-back plan.

(Reporting by Sarah Young; editing by Jason Neely)