19 July 2012 13:37 [Source: ICIS news]
HOUSTON (ICIS)--Sherwin-Williams’ second-quarter net income rose 27.2% year on year to $227.8m (€186.8m), driven by strong sales volumes and higher prices, the US-based paints and coatings firm said on Thursday.
“Selling price increases implemented across all segments in the previous twelve months are gaining traction against the higher raw material costs,” said CEO Christopher Connor.
Sherwin-Williams' sales for the three months ended 30 June rose 9.3% year on year to a record $2.57bn.
For the third quarter, the company expects sales to increase in the mid-single digits, compared with the 2011 third quarter, it said.
($1 = €0.82)
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