Home / Knowledge / News / Apparel/Garments / Dawson Knitwear seasonally biased to H2
Dawson Knitwear seasonally biased to H2
02
Sep '09
Commenting on the interim results, Chairman David Bolton said: "As anticipated in our Annual Report for 2008 the Group has experienced a lower level of demand overall for its products in the first six months of 2009, trading through the worst economic conditions experienced for a very long time. It is important to note that performance in the first half of the year reflects the seasonality of the US Knitwear division, which generates over 90 per cent of its sales and all of its profits in the second half of the year.

"The outlook for the full year remains very challenging. Every effort is being made to remain close to customers to find ways to adapt product and price point and respond to changing market demands dictated by the global recession, whilst maintaining a rigorous focus on cost containment and reduction. Another key objective for the Board will be to reduce the Group's exposure from its final salary pension schemes which are both costly and highly volatile and as such represent a barrier to potential new investment. I am confident that we as a Board and our management teams are taking the necessary steps to ensure that Dawson comes through these turbulent economic conditions well positioned to take advantage of market opportunities when the economy begins to show signs of improvement."

KEY POINTS
Continuing operations
- Turnover £24.1 million (2008: £28.2 million)
-Operating loss before exceptional items £2.8 million (2008: £1.7 million)
- Net central costs £0.8 million (2008: £1.7 million)
- Knitwear businesses seasonally biased to second half
- Strong US dollar impacted margins in the Home Furnishings business
- Net debt £4.0 million (2008: £9.7 million)

Discontinued operations
- Sale of Todd & Duncan yarn spinning division completed 28 August 2009
- Turnover £12.4 million (2008: £15.8 million)
- Operating loss before exceptional items £0.3 million (2008: £0.7 million profit)
- Loss on disposal of business £5.0 million (inclusive of costs) reflects business' current poor profitability and strategic challenges
- Initial consideration £6.1 million
- Additional funds of c.£4 million to be generated by liquidation of retained working capital will support Group's longer-term strategic objectives

Dawson International Trading Limited

Must ReadView All

Textiles | On 28th Apr 2017

Fix 5% GST rate for textile goods: Textile bodies

Uniform levy of 5 per cent Goods and Services Tax (GST) on all...

Textiles | On 28th Apr 2017

India lifts CVD imposed on Nepali Jute goods

The countervailing duty (CVD) that was imposed on Nepali jute...

Courtesy: Williamsburg Garment Company

Fashion | On 28th Apr 2017

'We have grown by staying small & maximising efforts'

The easiest way to go out of business is to be too big or expand too...

Interviews View All

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X