30 January 2014 15:28 [Source: ICIS news]
HOUSTON (ICIS)--US paint and coatings major Sherwin-Williams on Thursday reported a 71% year-over-year increase in fourth-quarter net income, to $116m, as sales rose nearly 11% to $2.46bn.
Sales rose primarily because of higher architectural paint sales volumes across all of Sherwin-Williams’ end-market segments, the company said. Acquisitions increased sales by 7.5% in the quarter, it added.
Sherwin-Williams' gross profit margin in the three months ended 31 December rose to 45.8%, from 44.8% in the 2012 fourth-quarter.
Full-year net income was up 19% to $753m, with sales up nearly 7% to $10bn. The full-year gross profit margin was 45.3%, up from 44.1% in 2012.
Sherwin-Williams expects a 7-12% year-over-year increase in net sales in the current 2014 first quarter, it said.
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