Franchise news

05.11.2007

Snap-on announces its results for the third quarter 2007

Snap-on Incorporated, an international innovator, manufacturer and marketer of tools, diagnostics and equipment solutions for professional users, has recently announced its results for the third quarter of 2007. According to the information provided, the Group’s net sales increased by $86m to $680.7m, a 14.5% increase compared to the year before. Its operating earnings grew by an even greater rate, namely by 58.8% to $72.4m. The company is expecting this growth to continue for the rest of the year.

Jack D. Michaels, Snap-on chairman and chief executive officer, commented, "Our third-quarter results continue to reflect the progress being made by our associates in executing our strategies. Improvements in delivery, innovation and Rapid Continuous Improvement (RCI) - our core beliefs - are being obtained across our businesses, allowing us to increasingly capture profitable growth opportunities."

Snap-on Tools Group segment sales increased by $18.1 million to $262m compared to the year before. In its announcement, the company states that sales in its international franchise operations increased by 15.4% which can primarily be put down to continued strong sales growth in the U.K. and Australia.


Snap-on (UK)

direct selling of mechanics hand tools and professional equipments
» to the franchisor


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