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AFI suffers another slump in Wood Flooring division

04.06.2018 − 

Armstrong Flooring (AFI) faced a 2.7% decrease in revenues to US$257.9m in the first quarter. Slow wood flooring business was the main factor prompting this downturn. In its quarterly report, which was published on 8 May, AFI recorded a 9.8% dive in revenues from its Wood Flooring activities to US$94.4m. Sales of both solid parquet and multi-ply parquet decreased, continuing a trend seen last year. Earnings also deteriorated again. The division saw its operating loss swell to US$5.1m. Adjusted EBITDA tumbled to US$0.4m.

On the other hand, AFI’s Resilient Flooring division booked a 1.9% upswing in revenues to US$163.5m. AFI again booked lower sales of traditional PVC flooring and laminate flooring, which were largely offset by higher sales of luxury vinyl tiles (LVT) and vinyl composite tiles (VCT), during the first quarter. What is more, the product mix improved on the whole, which also boosted revenues. This division also posted an operating loss of US$3.8m. Adjusted EBITDA did improve to US$9.7m.

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