Sherwin-Williams fourth-quarter profits up 4%

25 January 2007 14:46  [Source: ICIS news]

HOUSTON (ICIS news)--US paintings and coatings maker Sherwin-Williams on Thursday said its gross profits for the fourth quarter reached $770.9m (€593.6m), up almost 4% over the year-earlier period.

Net sales for the quarter ended 31 December were $1.79bn, up from $1.71bn a year earlier.

Gross profit for the full year was up 7% at $4.39bn, while net sales for 2006 topped $7.80bn.

Sherwin-Williams is one of the world’s top paints, coatings, adhesives and sealants makers.

Net sales in the company’s paint stores group increased by 11.3% to $4.84bn in the year and 5.2% to $1.11bn in the fourth quarter due to strong domestic sales of architectural paint to contractors during the first half of the year.

The consumer group experienced a decline in net sales for the year on sluggish do-it-yourself sales and the elimination of a portion of a paint programme with a large retail customer.

Looking ahead, the company said it expects to achieve low-to-mid single digit increases in net sales for the first quarter 2007 compared with the year-earlier period.

($1 = €0.77)

By: Joseph Lohan
+1 713 525 2653

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