Home / Knowledge / News / Textiles / ShawCor sales grow marginally in Q2
ShawCor sales grow marginally in Q2
09
Aug '13
ShawCor Ltd. announces results for the second quarter ended on June 30, 2013.

Highlights:

-Second quarter revenue reached a new quarterly record of $457.3  million, increasing by 1% from the $454.7 million reported in the first quarter of 2013 and increased by 40% from the $326.9 million reported in the second quarter a year ago.
-EBITDA in the second quarter of 2013 was $101.5 million, $65.1 million, or 179%, higher than in the prior year period but$2.7 million, or 3%, lower than in the first quarter of 2013. The reduction from the first quarter was primarily due to start up costs associated with Socotherm facilities in the USA and Italy.
-The consolidated EBITDA margin was 22.2%, compared with 11.1% in the second quarter a year ago, as a result of favourable revenue mix and the benefits of significantly higher facility utilization from the growth in revenue in the Company's Asia Pacific operations.
-Net income (attributable to shareholders of the Company) in the second quarter was $53.9 million (or $0.90 per share diluted) compared with net income of $21.4 million (or $0.30 per share diluted) in the second quarter of the prior year.

Mr. Bill Buckley, President and CEO of ShawCor Ltd. remarked "We are pleased to announce a continuation of strong financial results for the second quarter of 2013 with revenue reaching a new record level and EBITDA continuing strong despite the significant start up costs associated with two important deepwater coating facility mobilizations in the Socotherm group."

ShawCor Ltd.

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marcel Alberts
Eurofibers

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Tony Ward
Tony Ward

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

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search