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January 18, 2016

Johnson Electric posts nine-month sales of US$1.57m

Johnson Electric has posted Group sales for the nine months ended 31 December, 2015 of US$1.57m compared to US$1.58m in the same period in 2014.

Johnson Electric has posted Group sales for the nine months ended 31 December, 2015 of US$1.57m compared to US$1.58m in the same period in 2014.

Sales figures for last year included US$71m of sales from Stackpole International, a supplier of automotive engine, transmission pumps and powder metal components, whose acquisition was completed on 27 October.

Foreign exchange rate movements had a significant impact on the Group's sales during the period under review, particularly the depreciation of the euro compared to the US dollar.

Excluding currency effects and the acquisition of Stackpole, sales increased by 1.5%, around US$24m, compared to the same period last year.

Automotive Products Group sales, excluding currency effects and the acquisition of Stackpole, increased by around US$49m, with growth across all regions, compared to the same period last year.

The sales growth was largely driven by increased demand for products for heating, ventilation and air-conditioning, engine air management, powertrain cooling and coolant valve applications.

This was slightly offset by lower sales of products for seat adjustment applications. 

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