Emerson sales top $9bn
19 Nov 2014
Emerson Process Management recorded sales of just under $9.2 billion (£5.9bn) in the twelve months to September, representing a 7% increase on the previous year.
Profits were also up, with pre-tax earnings increasing from $1.8 billion in 2013 to £1.9 billion in 2014.
Once again Emerson Process Management was the Emerson group’s strongest performing business segment, accounting for more than a third of total group sales of $24.5 billion.
In the most recent quarter, the three months to September 30th, Emerson Process Management’s sales grew 8%.
Growth was strongest in North America, up 13% thanks to continuing investments being made in shale oil and gas production and processing projects.
Once again, global business investment struggled to sustain momentum
Emerson CEO David N. Farr
Market conditions were mixed in Asia, with sale up by just 1% as strength in Southeast Asia and India was balanced by declines in Australia and China.
Europe was flat, with improvement in Russia offset by “project timing” in the North Sea region.
Emerson Process Management’s orders grew by 12% in the quarter.
“Operationally, we closed 2014 with a strong finish, as profitability, earnings growth and cash generation met or exceeded our targets communicated at the start of the year,” said Emerson chairman and chief executive officer David N. Farr.
“Once again, global business investment struggled to sustain momentum, with growth fading through the year as economic uncertainty increased. I am very pleased with how we executed in this environment, delivering solid results while maintaining our strategic investment programs to continue to position Emerson for stronger long-term growth and enhance shareholder value.”
