NSG Group announced its architectural operating results for fiscal year 2015 improved over the previous year, as 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,” a release from the company reads.

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 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,” the release reads. “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.

Leave a Reply

Your email address will not be published. Required fields are marked *