Sherwin-Williams Q1 net income rises 16% on higher sales volumes

18 April 2013 13:57  [Source: ICIS news]

HOUSTON (ICIS)--Sherwin-Williams' 2013 first-quarter net income rose 16% year on year to $116m (€89m), driven by higher sales volumes, the US-based paints and coatings major said on Thursday.

Sherwin-Williams' net sales for the three months ended 31 March increased by $30.8m, or 1.4%, to $2.17bn.

Gross profit was $962.9m, up from $909.8m in the 2012 first quarter. As a percentage of net sales, gross profit improved to 44.4%, from 42.6% in the same period a year ago.

For the current second quarter, the company expects sales to increase by 5%-9%, compared with the 2012 second quarter, it said.

($1 = €0.77)

By: Stefan Baumgarten
+1 713 525 2653

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