Minneapolis, Minnesota — Polyurethane spray equipment manufacturer Graco, saw sales in its industrial segment rise by 11 % to $175 m in the second quarter of 2017 compared with $157 m in the same quarter last year.
Over the first half the firm saw sales in the division, which contains polyurethane spray foam equipment, rise by 9% from $304m in the first half of 2016 to $333 m in the 2017 half.
Over the half, divisional sales in the Asia Pacific region grew by 15% to $ 92.4 m, sales in the Americas grew 7.7% to $145m, while EMEA sales saw a 4.6% increase to $94 m.
Graco said that sales in all industrial segment applications grew, and the year-to-date operating margin rate for the industrial segment grew by 3% compared with last year. Higher sales volumes, better gross margin rate and lower expenses were partly offset by currency translations, the firm added.
Across the company, sales reached $720 m in the half, up 10% on the $ 653 m recorded in the first half of 2016. Net earnings grew from $ 90.4 m in the first half of 2016 to $ 140.6 m in the 2017 half, a rise of 55%.