CEDAR RAPIDS, Ia. - Sales for the FDMC 300 group of companies grew 5 percent in 2016 over the previous year to $48.786 billion.
The group of 300 largest North American cabinet, millwork, furniture and fixture manufacturers recorded a fifth consecutive year of sales expansion in 2016, in the initial report from the FDMC 300 - the annual statistical recap of wood manufacturing firms' sales performance. The list is published annually by FDMC magazine.
Continuing a strong upward trend, cabinet manufacturers and suppliers dramatically increased their presence at this year’s Kitchen and Bath Industry Show and International Builder’s Show.
The current period of growth comes after five consecutive years of declines from 2007 to 2011.
A year ago, FDMC calculated annual sales for this group of 300 companies to be $46.404 billion for 2015. That was an increase of 7 percent over $43.325 billion for 2014. That year’s sales increased 9.3 percent over sales reported and estimated for the year 2013.
As in the last few years, companies in most market sectors reported higher sales in 2016. Sales of mid-size and large cabinet companies continued to be strong. Among the largest publicly traded manufacturers, some had solid gains in sales while others consolidated or concentrated on improving profitability rather than overall revenue.
The FDMC 300 is a group of the 300 largest cabinet, furniture, millwork, store fixture, office/contract and component producers in North America. Watch for a full report on the FDMC 300 in the February issue of FDMC magazine, and further updates on www.woodworkingnetwork.com.