NSG Group continues to feel the effects of an uncertain European economy

NSG Group continued to feel the effects of an uncertain European economy in third quarter FY2013, with gross profit down 9 percent for the quarter compared to the same period a year ago.

"Economic difficulties in Europe continued to depress construction and refurbishment activity, and, consequently, architectural volumes were significantly below the previous year," according to an NSG release. The Group also cited its automotive glass business in the release, saying revenues fell in that segment due largely to "a significant decline in volumes in Europe."

According to the release, the Group does not expect to experience a significant improvement in market conditions during the remainder of the financial year.