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American Woodmark’s profit impaired by stoppages

29.06.2020 − 

The net profit of the US kitchen and bathroom-furniture manufacturer American Woodmark fell by 9m US$ in the fourth quarter of its business year 2019/2020 to 13.0m US$. Besides the 2 % decline in sales revenue to 399.2m US$ in the period under review, the company attributes the reduction to higher rates of customs duty and additional costs incurred by interruptions in the supply of particleboard and the temporary stoppage of the three component works in Mexico. According to company information, all 18 production facilities in the USA and Mexico are operating again.

Net profit also fell by around 9.0m US$ in the business year 2019/2020 as a whole to 74.9m US$. Sales revenue was only very slightly higher than a year earlier at +3 % to 1.650bn US$. The reductions registered in the first (-0.4 %) and fourth quarters contrasted with growth in the second (+0.7 %) and third (+3.0 %).

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