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Mohawk achieves slight increase in operating profit

11.12.2017 − 

In the third quarter the flooring rest of world business division of Mohawk Industries succeeded in achieving operating profit slightly above last year’s figure. For the first quarter a 4% decline was recorded, followed by a significantly more serious decline of 15% in the second quarter. For the third quarter a sum of US$83.0m was recorded. In absolute terms, operating profit was thus recorded at a figure between the first (US$76.1m) and the second quarter (US$86.1m).

Turnover of the business division increased by 13% to US$523.3m in the third quarter. Adjusted to account for exchange rate effects and number of working days, this represents an increase of 8%. As a result of the still significantly stronger increase in turnover than in the result, the operating margin decreased to 15.9%. According to Mohawk, most of the product groups contributed to the increases in turnover and results. Price increases and product mix improvements implemented over the course of the third quarter compensated at least for the exchange rate effects.

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