Home / Knowledge / News / Textiles / H1 revenue remains unchanged at Coats
H1 revenue remains unchanged at Coats
28
Jul '16
Revenue at industrial threads manufacturer Coats remained unchanged at $718 million for the six months ended June 30, 2016 which it ascribed to tougher market conditions.

Operating profit for the reporting period, however soared 24 per cent year on year to $77 million on an adjusted basis, but was higher at 44 per cent on a reported basis.

The company said its adjusted EPS too surged 24 per cent in the first half of 2016 to 2.08 cents due to higher operating profit and reduction in tax rate offset mainly by unrealised losses on foreign exchange hedges.

Coats also added that its Americas Crafts business margin increased, despite tough market conditions, due to focus on costs.

Adjusted free cash flow for the last twelve months totaled to $82 million, as against $75 million in the 12 months to June 2015, primarily due to higher profitability.

CEO Paul Forman said, “We delivered productivity gains, tightly managed our overheads and greater sales volumes led to a positive operational gearing effect.” (AR)

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 28th Sep 2016

CMAI inks MoU with Chinese textile trade body CCCT

Indian apex clothing association, the Clothing Manufacturers...

Textiles | On 28th Sep 2016

India sees largest gain on WEF’s Competitiveness Index

India has shown the largest gain made by any country on the World...

Textiles | On 28th Sep 2016

Oerlikon to show new yarns and fibres at ITMA+CITME expo

The Oerlikon Manmade Fibers segment, the world market leader for...

Interviews View All

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Robert Brunner
Devereux

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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
September 2016

September 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search