Home / Knowledge / News / Apparel/Garments / Tefron sees strong improvement in sales in H1
Tefron sees strong improvement in sales in H1
24
Aug '11
Tefron Ltd., a leading producer of seamless intimate apparel and engineered-for-performance (EFPT) active wear, announced financial results for the first half and second quarter of 2011.

Commenting on the results, Amit Meridor, Tefron's CEO said: "Tefron's strong sales and operational improvements provide a clear indication that we are growing in accord with our turnaround plan. The increase in sales to $56.8 million from $50.7 million in the first half last year, represents an annualized sales rate of approximately $110 million for 2011. I am very pleased to report that the strong sales reflect both higher sales to existing customers, as well as an important broadening of the customer base."

Meridor continued, "These first half results do not yet reflect the full potential of the acquisition of the seamless assets of Nouvelle Inc. of Canada. Not only is the organic improvement in performance seen in the first half of 2011 expected to continue, but we expect a greater contribution to growth in the second half of the year from the Nouvelle acquisition, with an important increase in sales to the mass market in the USA, as well as in European markets. Looking further forward, Tefron has been focusing much of our development expenditure and investment in new technology toward the launch of new products in the sports market for 2012. We believe that these products will enable us to return to our global leadership position in seamless technology and the preliminary indications regarding the new products are very positive."

Arnon Tiberg, Tefron's Chairman confirmed that "Tefron is continuing to improve its major financial and operational parameters in line with the strategic objectives of the Turnaround plan introduced by management a year and a half ago. This half year financial report noticeably demonstrates the results of our efforts to increase the efficiency of our operational processes, which had been a major bottleneck in growth. The expansion of sales in the first half of the year is a result of both the enlistment of new large retail customers and higher sales to existing strategic customers. These two factors are a direct result of the steps taken to increase marketing and sales activity in targeted markets in Europe and North America, investment in new product development to regain our position of technological leadership, and our strenuous efforts to improve customer service, timeliness of delivery and quality control. Finally, I would add that we are pleased how management has begun to exploit the synergies and benefits of the merger with Nouvelle, although there are clearly more gains to exploit going forward. "

For more details click here.

Tefron Ltd


Must ReadView All

Alliance to form joint entity for safety in factories

Textiles | On 24th Apr 2018

Alliance to form joint entity for safety in factories

On the 5th anniversary of the Rana Plaza Collapse, The Alliance for...

China’s Alibaba partners with Thailand for digital trade

Textiles | On 24th Apr 2018

China’s Alibaba partners with Thailand for digital trade

China’s Alibaba Group recently signed an agreement with the Thai...

Courtesy: Skineez Skincarewear

Apparel/Garments | On 24th Apr 2018

Skineez, Walmart partner for smart wearables

Skineez Skincarewear, a leading cosmotextile skincarewear company,...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search