Wolseley Plc, a British building materials supplier, posted a narrower loss in the first six months of the year ended January 31, 2010. The company released it half yearly results today.

Wolseley said that the results for the first half were reported better than expected by the company. Wolseley also said that the company remains cautious for the next half and will focus on the cost cutting measures.

Wolseley plc reported net loss attributable to equity shareholders of £220 million or 78.1 pence per share, while in the same period last year the company posted a net loss of £777 million or 429.9 pence per share. Total revenue for the first half was reported of £6.33 billion, decreasing by 15.1% comparing to the revenue in the same period last year.

Loss from continuing operations was reported of £224 million, compared to £463 million in the same period last year. The company reported loss before tax of £261 million in H1, compared to £464 million reported in first six months of last year.

Wolseley plc also released its outlook for the remaining year and said that it would be cautious for the second half of the fiscal. The company said that it would focus on the cost cutting using various measures. The company had saved a good amount in the first half of the year by using cost cutting measures. The trading profit was reported of £33 million in H1, increasing by 68%.