31 January 2013 15:22 [Source: ICIS news]
HOUSTON (ICIS)--Sherwin-Williams’ net income for the fourth quarter of 2012 rose to $117.2m (€86.7m), from $14.6m in the same period in 2011, driven by increased paint sales volumes and higher selling prices, the US-based paint maker said on Thursday.
Sherwin-Williams' sales for the three months ended 31 December rose 7.3% to $2.2bn.
Gross profit rose to $1bn from $886m for a gross margin of 45.5%, up from 42.8% in the fourth quarter of 2011.
Sherwin-Williams forecasts that first-quarter 2013 sales will increase by a “low single digit percentage”, compared with the same period in 2012, CEO Christopher Connor said.
Full-year 2013 sales should increase by a “mid single digit percentage,” Connor added
($1 = €0.74)
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