Morris Plains, New Jersey — Net sales at Honeywell, which makes polyurethane blowing agents and refrigerants, were $18.12bn in the first half of 2019. This is down 15% on the same period last year.
Pre-tax income across the business fell by 2.2% to $3.82m in the half. The declines were attributed to business spin-offs.
The Solstice blowing agents are included in the company's performance materials and technologies business. This division's net sales rose by 1.4% year-on-year, to $5.3bn. This compares with $ 5.23 bn in the same period last year.
At the same time, pre-tax income in the Honeywell division rose 8.2%. It reached $ 1.21 bn in the first half of 2019. This compares with $ 1.12bn in the same period last year.
Demand for Solstice low global warming products in the advanced materials market helped the numbers. The company was able to translate some of this into profit, and the segment margin expanded compared with the previous period.
| Honeywell numbers quarter 2019 ( $ bn) | |||
|---|---|---|---|
| Group | H1 2029 | H1 2018 | Change % |
| Net sales | 18.13 | 21.31 | -14.94 |
| Pre Tax Income | 3.82 | 3.91 | -2.17 |
| Margin % | 21 | 18 | 15.01 |
| Performance Materials and Technologies | |||
| Net sales | 5.31 | 5.23 | 1.43 |
| Segment Profit | 1.21 | 1.12 | 8.24 |
| Margin % | 22.76 | 21.33 | |
| Source: Honeywell | |||
