25 October 2012 13:52 [Source: ICIS news]
HOUSTON (ICIS)--Sherwin-Williams’ third-quarter net income rose 31% year on year to $235m (€181m), on a 4.8% increase in sales to $2.6bn, the US-based paint maker said on Thursday.
“Selling price increases implemented across all segments in the previous twelve months are gaining traction against the higher raw material costs,” CEO Christopher Connor said in commenting on the three months ended 30 September.
In the current fourth quarter, Sherwin-Williams expects sales to increase in the mid-single digits, compared with the same period in 2011, Connor added.
For the first nine months of 2012, Sherwin-Williams’ net income was up 32% year on year to $563m and sales were up 9.2% to $7.31bn.
($1 = €0.77)
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