Solid performance for Toolstation owner in a ‘challenging market’
Toolstation and Wickes owner Travis Perkins saw revenue grow 3.5% in the first half of the year (2.7% like-for-like). Adjusted operating took a hit at 2.1% lower (£190m) due largely to investments and a challenging Plumbing & Heating market. CEO John Carter said Travis Perkins had delivered a strong performance against a challenging market backdrop, […]
Power tools sales rise for Makita
Net sales grew 11.6% for Makita in Q2 (three months ending 30 June 2017). Sales reached 113,064 million yen, up from 101,276 million yen in Q2 2016, like-for-like. Makita noted gradually recovering economies in developed countries – and uncertainties around the “international political situation and policies”. However, emerging countries saw their economies steadily grow on […]
Snap-On Tools sees sales increase $49m following Norbar acquisition
Snap-On Tools, which acquired Norbar Torque Tools in May, saw a rise in sales in Q2 2017, both organic and non-organic. Net sales increased $49.1m (5.6%) from $921.4m, reflecting a £23.2m (2.7%) organic sales gain and $38.4m of acquisition-related sales. That figure was offset by $12.5m of unfavourable foreign currency translation. Snap-On’s boss noted that […]
Sales rise to $2.6 billion for Grainger
Grainger has reported an increase in sales for Q2 2017. Sales rose 2% to $2.6 billion while company operating earnings were down 24% to $232 million thanks largely to restructuring costs – excluding restructuring in both years, operating earnings were down 9%. The two reportable segments of the business – the US and Canada – represent […]
‘Q2 felt more like Fastenal’ says fastener distributor boss
Net sales have risen for Fastenal, which has now published its latest financials, covering the first half of 2017 and Q2. Q2 net sales were up 10.6% to $1,121.5m, with profit up 11.3% to $558.5m. First half 2017 net sales reached 2,169.2m, up 8.4% , while profit rose 8.4% to 1,076.5. Higher unit sales drove […]
‘Strong underlying demand in automotive’ boosts Bulten sales
Bulten has grown sales in 2017 so far, with Q2 net sales up 3% to SEK 708 million and half year net sales rising 6% and hitting SEK 1,486 million. Bulten received a strong order intake during Q2 and growth was affected be fewer production days in the period – indicating “strong underlying demand in […]
Bossard beats expectations with higher mid-year profits
High sales growth in all market regions has resulted in an above-average mid-year profit for Bossard – the firm behind With performance considerably stronger than early-year expectations, the group cited above-average growth rates for America, Europe and Asia. Consolidated net income in the first half of 2017 is expected to be more than 30% above […]
Cordless power tool market to reach $7.6 billion in 2021
The appetite for cordless electric tools is expected to increase 6.4% per year to $7.6 billion in 2021, according to Cleveland-based research firm Freedonia Group. Cordless power tools will carry on taking market share from mains powered tools – by 2021 cordless will constitute 41% of the total, the report says. Earlier this year, Makita provided […]
Asia-Pacific sales rocket for NORMA Group
NORMA Group saw sales growth in three regions in the first quarter of 2017, with sales up 12.5% to €254.9 million. Following a “challenging 2016”, NORMA’s strong start to the year included significant growth in the EMEA (Europe, Middle East and Africa regions) and Asia-Pacific regions. EMEA sales rose 14.1% to €127.9 million in Q1 […]
British manufacturing booms with Brexit on horizon
The UK manufacturing sector had a spectacular start to Q2 2017, hitting a three-year high in the Purchasing Managers’ Index (PMI) at 57.3 in April. According to the Markit/CIPS UK Manufacturing PMI, growth of output, new orders and employment, and stocks of purchases rose at a survey record rate and suppliers’ delivery times lengthened. Last week, […]