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The firm, which owns the Plumb Center chain of stores - recorded a pre-tax profit of £399 million during the same period last year, but this figure has dropped to a loss of £766 million.
However, the decline was not as bad as analysts had predicted and shares in the company have risen, climbing 137p to 1,446p during stock market trading in London this afternoon.
Ian Meakins, group chief executive, stated: "Maximising operating performance remains our key priority."
He added that the company is to "continue to focus on generating cash and lowering the cost base whilst ensuring we drive customer service at a local level".
Group revenue for Wolseley dropped by 2.5 per cent over the 12-month period, but the firm said in its annual statement that it has made "significant" cost reductions during the year.
