1/25/2010
NEWS BRIEFS
FIN Survey: Which Companies Did Better in Recession?
FINdex Fastener Industry Sales in 2009
Fastener distributors were slightly more profitable than manufacturers during 2009, the End of 2009 FIN Survey found.
Nearly 80% of both distributors and manufacturers said sales fell last year, while 18% of distributors reported profit gains compared with 15% of manufacturers. Only 5% of distributors participating in the survey achieved sales growth in 2009, compared with 6% of fastener manufacturers.
Overall, three out of four fastener companies participating in the End of 2009 FIN Survey saw sales decline in 2009, with another 14.1% reporting steady sales. Less than one in ten – 8.3% – claimed sales grew last year.
The bottom line was thinner, too, with 63% of fastener companies reporting “Moderate” to “Strong” declines in profit. About 18% of FINdex respondents claimed stable profit, while nearly 17% achieved profit increases during 2009.
About 67% of importers found sales declined in 2009.
Watch for the full End of 2009 FIN Survey results in the upcoming issue of FIN. ©2010 GlobalFastenerNews.com
Related Stories:
• FIN Company Performance Index Drops to New Low for 2009
• FIN Survey: Will Fastener Companies Increase Wages in 2010?
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