Volume 50, Issue 7 - July 2015

FinancialFlash

North America Leads NSG’s Architectural Results

Operating results for fiscal year 2015 for NSG Group’s architectural glass area improved over the previous year. The company’s business in that sector recorded revenues of $2.11 billion and an operating profit of $140 million.

Results improved “due to cost savings arising from the groups’ restructuring program and improved market conditions in North America,” according to a release from the company.

North America, which represents 13 percent of NSG Group’s architectural sales, saw an increase in revenues and profits from the previous year.

Europe, however, saw depressed levels of new construction and refurbish construction due to low levels of economic activity. The region represents 37 percent of the company’s architectural sales.

“Cumulative local currency revenues fell slightly, due to soft market conditions and the mothballing of under-utilized production facilities during the previous year,” reported the company. “While the difficult market conditions prevented any sustained upward selling price pressure, the Group’s restructuring actions generated an improved level of asset utilization, enabling an improvement in profitability.”

Cumulative volumes fell in Japan, which represents 27 percent of its sales, following the increase in consumption taxes earlier in the year. Revenues fell due to the reduced volumes.

Elsewhere, the company affirms markets in South East Asia were strong, and revenues in South America were similar to the previous year.

NSG’s Consolidated Business Results for
Fiscal 2015, April 1, 2014 – March 31, 2015

(converted from JPY, in millions)
  Revenue Operating Profit Profit/(Loss)
Before Taxation
FY2015 $5,008,012 $178,501 $38,400
FY2014 $4,843,433 $5,863 ($120,809)
  Profit/(Loss)
before
the Period
Profit/(Loss)
Attributable to Owners of
the Parent
Total
Comprehensive
Income
FY2015 $23,120 $13,330 ($54,914)
FY2014 ($123,555) ($132,690) $200,929


USG
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