February 10, 2017
Masco has reported an increase in sales for the full year in 2016.
In the year ended December 31, the owner of brands Moores Furniture Group, Axor, Bristan and Hansgrohe, posted net sales of $7.4bn (£5.8bn), an increase of 3% compared with $7.1bn in 2015.
Masco said net sales were positively affected by increased sales volume of plumbing products, paints and other coating products and builders’ hardware, as well as by a favourable product mix of cabinets and windows.
However, sales were also negatively affected by lower sales volumes of cabinets and lower net selling prices of paints and other coating products.
Group operating profit hit $1bn in 2016, compared with $914 million in 2015.
Operating profit margins were positively affected by increased sales volume and a more favourable relationship between selling prices and commodity costs.
Broken down into product categories, plumbing products saw a 6% increase in net sales, from $3.3bn in 2015 to $3.5bn in 2016.
Decorative architectural products increased 4% to $2bn, cabinetry products up 5% to $970m, and windows and other speciality products increased 2% to $769m.
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