DEERFIELD, IL - Net sales for Fortune Brands Home & Security Inc. rose to $1.10 billion in the fourth quarter, a gain of 16% compared to the same period in 2012. An improved housing market and growing demand for home products helped contribute to the home and security products company's gains.
"Sales were up a combined 20 percent versus last year for our home segments in the fourth quarter as we benefitted from new construction and continued repair and remodel momentum," CEO Chris Klein, said in a statement. The company's brands include: MasterBrand cabinets, Master Lock security products, Simonton windows, Therma-Tru entry door systems and Moen faucets.
The company reported kitchen and bath cabinetry net sales were up 34% for the fourth quarter. Advanced Material Windows & Door Systems net sales also grew by double digits, up 13%, with entry doors sales rising19% and windows sales up 7%. Plumbing rose 7%, while security and storage products dropped 2% compared to the same period last year.
"We delivered another strong quarter and full year as we leveraged our structural competitive advantages and the market recovery to deliver profitable growth," Klein, said. "Entering 2014, our annual outlook calls for continued growth based on our strong execution and the continuing market recovery for both new construction and, importantly, repair and remodel activity."
Fortune Brands' (FBHS) sales for the full year also rose 16%, to $4.2 billion. Its 2014 outlook calls for net sales to grow 11% to 13% for the year.
"We have built strong momentum over the past two years," said Klein. "We believe we are still in the early stages of a multi-year housing recovery and are well positioned to continue to leverage our structural competitive advantages and drive profitable growth well into the future."
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