NSG, parent company to Pilkington, has reported that its automotive revenue improved to $1.54 billion U.S. dollars (152.1 billion Yen), compared to $1.23 billion U.S. dollars (121.1 billion Yen) in the same period of last year.
Company officials saw “further recovery of the OE markets” in North America and reported that “AGR performance was similar to the previous year.”
In Europe, OE demand was stable, “but at a historically low level,” according to the company’s statement. Moreover, the automotive division saw increased AGR demand and profits improved due to restructuring, according to officials.
As for Japan, the weakened Yen supported vehicle exports and profits for the automotive division were up due to cost reductions and improved volumes.
In the rest of the world, the company reported that consumer demand for vehicles has increased. Officials also note local currency revenues and profits have improved.
Overall, NSG reported cumulative revenues of $3.06 billion U.S. dollars (302.2 billion Yen), up 16 percent from $2.64 billion U.S. dollars (260.7 billion Yen) in the same period last year.
The company reported an operating profit of $93.3 million U.S. dollars (9.2 billion Yen) for the time frame, compared to $23.2 million U.S. dollars (2.3 billion Yen) in the prior year.