Company revenue expanded 10.0% over fiscal 2021
Griffon announced its annual results for the fiscal year ended September 30, 2021 in November 2021. Excluding discontinued operations, revenue for fiscal 2021 totaled $2.3 billion, which represents a 10.0% increase over fiscal 2020. Consumer and Professional Products, the company’s largest segment, experienced an 8.0% increase in revenue to reach $1.2 billion. This was attributed to increased volume in international markets, which was further aided by foreign exchange rates. Home and Building Products revenue grew 12.0% to reach $1.0 billion, due to favorable pricing of company products
Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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