Income increases at Safety Products and NSP

26/03/2007

US-based personal protection products companies Safety Products Holdings, Inc. and Norcross Safety Products L.L.C., have posted improved results for the year ended December 31.

In 2006, net sales for Safety Products were $558.1 million compared with $481.1 million in 2005 and gross profit was $205.7 million compared with $169.5 million. The sales increase of $77 million, or 16%, has been attributed to increased net sales in the general safety and preparedness and electrical safety segments. In the electrical safety segment, net sales increased $18.2 million, or 30%, primarily driven by strong overall market demand, new product penetration and incremental white rubber net sales.

NSP’s income from operations increased by $27.5 million, or 82.9%, to $60.7 million in 2006 from $33.2 million in 2005 and Holdings’ income increased by $30.4 million, or 101.4%, to $60.3 million compared with $29.9 million.