PLUMB Center owner Wolseley posted a 10% rise in quarterly profits, but warned that the stronger pound was set to hit results this summer.
Good growth in the USA and Canada, where the company generates about half its revenues, meant Wolseley recorded trading profits of £139m for the three months to April 30.
But the progress was countered by tough trading conditions in Europe, particularly France.
The company warned that profits growth in the current quarter will be affected if the euro continues to weaken against the pound.
