Newell Rubbermaid’s Writing division has reported double-digit top-line growth for both the fourth quarter and 2015 as a whole.
Q4 sales were $466,3-million, an organic increase of 12,5% excluding negative currency effects and the positive impact of Elmer’s which was acquired last year.
For the full year, organic growth was 10,9% as revenue came in at $1,76-billion.
While Q4 adjusted operating profit at the division was up from $103,2-million in 2014 to $105,7-million in 2015, adjusted operating margin fell 200 basis points to 22,7% as increased gross margin and reduced overheads were more than offset by increased advertising and promotion spend and negative foreign currency impacts.
However, for the full year, adjusted operating margin was up 10 basis points to 24,8% of sales as adjusted operating profit rose 3,9% in dollar terms to $438,1-million.
At the Commercial Products division, Q4 sales were $207,1-million and full-year sales were $809,7-million, a core increase of 5,8% and 4,8% respectively.
Profitability was up at the division, with Q4 adjusted operating margin increasing 190 basis points year-on-year to 13,3% and full-year adjusted operating margin 90 basis points higher at 13%.
The company said it was on track to close its merger with consumer products group Jarden to create Newell Brands in the second quarter of this year.
By Andy Braithwaite for www.opi.net