FGI Industries Reports Revenue Growth Despite Tariff Pressure
brg_news_room
2 days ago
1 min read
USA: FGI Industries reported a 5.5% year on year increase in second quarter revenue to $31 million, supported by growth in sanitaryware and bath furniture. However, gross profit declined 2.9% to $8.7 million, with gross margin falling to 28.1% due to tariff related pressures. Sanitaryware revenue increased 4.3%, while shower systems declined 11.2%. Europe recorded strong revenue growth of 36.7%, compared with a slight decline in the US. The company is also adopting a China plus one sourcing strategy across product categories to diversify its supply chain and reduce exposure to tariffs.
Source: Scanx Trade
