Sales Jump 7% At Spectrum Brands for Fiscal 2016

Spectrum Brands Holdings, Inc. reported “record performance” for fiscal 2016 ended Sept. 30, 2016. The company also said it plans to deliver an eighth consecutive year of record performance in fiscal 2017, including expected growth in reported net sales above category rates. Net sales rose 7.4% to $5.04 billion in fiscal 2016.

“Fiscal 2016 was our seventh consecutive year of record financial performance,” said Andreas Rouvé, chief executive officer of Spectrum Brands Holdings. “Our improvement was broad-based across most businesses and geographies. Home and Garden, Hardware and Home Improvement and Global Auto Care achieved record results. Batteries, Personal Care and Global Pet delivered strong performances. All of our core regions reported organic net sales and adjusted EBITDA growth on a currency neutral basis.”
 
“The launch of innovative products accelerated in all categories, and we continued to leverage our global infrastructure and shared services as well as improve our processes,” he said. “To support our organic growth, we began to step up R&D and marketing investments while adding sales specialists to pursue white space opportunities worldwide. At the same time, unprofitable businesses were exited to help improve profitability, margins and free cash flow.”