Wolseley, which owns the Builder and Timber Center chains, has reported increases in sales and profits for the year ending July 31.

Total sales for its worldwide operations are up 12% to £7.2bn while pre-tax profit is up 6% to £379m.

Builder Center recovered strongly during the last six months following the wet winter, increasing sales by more than 10% while trading profits are up 17%.

The Timber Center chain continues to add new branches, with 12 RK Timber branches acquired in May.

Wolseley’s UK interests now account for 22% of group sales.

Wolseley, whose operations in North America account for 67% of total sales, said the US terrorist outrages had increased uncertainty but added that it was too early to assess its effect on business and consumer confidence.

The resilence of the US housing market was a major feature in its results.