JOHNSON Controls saw its building efficiency business sales drop 2% in the past quarter to $3.1 billion but the company expects it will grow 5% in the fiscal year.
On January 22, Johnson Controls, which is retrofitting New York's Empire State building to cut energy consumption, forecast higher profits for its building efficiency unit this year and said it sees signs that the commercial property market is bottoming out.

The maker of air-conditioning, heating and ventilation products, derives the bulk of its building revenue from retrofits and services, while new construction accounts for about a quarter.