Ferguson first-quarter profit rises as U.S. residential activity picks up
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(Reuters) - Plumbing parts distributor Ferguson Plc reported a 5% rise in adjusted first-quarter profit on Tuesday, boosted by an improvement in residential housing activity in the United States and said it was on track to spilt off its UK business.In September, it named a new chief executive officer and said it would separate the UK operations in a bid to focus more on its business in the United States, its largest market.Nelson Peltz's Trian Fund Management LP disclosed a 6% stake in the..