The Luxfer Group has recently issued its unaudited financial results for fourth quarter (Q4) and full year 2013, both periods ending 31st December 2013, and reported mixed market conditions throughout the year.
Group revenue for Q4 2013 was $116m and net revenue (revenue before rare earth surcharges) was $115m, a decrease of $11.4m over Q4 2012 at constant translation exchange rates.
Revenue in the Gas Cylinders Division was down in Q4, compared to the equivalent period in 2012, with sales of industrial gas cylinders and composite life support cylinders lower in both Europe and the US.
Despite lower sales in the quarter for the Gas Cylinders Division, the sales mix led to a favourable operating margin compared to Q4 2012. Overall, the group’s Q4 2013 revenue at $116m is lower than the $130m for Q4 2012. Gross profit margin, however, was 25.9% compared to 24.5% for Q4 2012, reflecting not only the change in sales mix between divisions but also a stronger quarter for product margins.
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