U.S. (Notifix).- Masco Corporation, the Michigan manufacturer of home improvement and building products, continued to deliver steady growth in the first quarter of 2013.
Top line growth was fueled by the strength of new home construction in North America and the successful execution of new product and program introductions. Adjusted operating margins increased from 6.5 to 7.5 percent due to higher volumes and the company’s continued commitment to cost control. The cabinet segment adjusted operating margin performance improved to a break-even level of profitability. “We continued to benefit from strong growth in North American new home construction,” said Masco’s President and CEO, Tim Wadhams. “Despite a harsher winter this year in regions of North America and Europe, we improved our performance in the first quarter compared to 2012. The new products and programs we’ve introduced have exceeded our expectations and contributed to our steady growth.“
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