Home / Knowledge / News / Textiles / Coats PLC reports robust Q3 sales momentum despite slowdow
Coats PLC reports robust Q3 sales momentum despite slowdow
27
Nov '13
Despite an uncertain global economic outlook, Coats PLC, the world’s leading industrial thread and consumer textiles crafts business, continues to witness robust sales momentum driven by impressive growth across its industrial and crafts division.
 
The company, which is a 100% subsidiary of investment holding company Guinness Peat Group, reported a 7 per cent increase in consolidated like-for-like sales in the third quarter of this year from the same period last year.
 
However, on an actual currency basis, year on year sales growth in Q3 2013 stood at 4 per cent amid the sharp depreciation of the Indian rupee and the Brazilian Real against the US dollar.
 
While the company’s operating margins in the Americas region have been hit by subdued demand from Brazil, a key market, overall operating profit remains in line with management expectations driven by factors such as productivity improvements in manufacturing and purchasing, reorganization benefits and pricing initiatives which have helped offset higher input costs.
 
Like-for-Like Industrial sales witnessed a 7 per cent, year on year rise in the third quarter of 2013 driven by healthy growth in the Europe, Middle East and Africa region, and Asia, more than offsetting soft demand from Latin America.
 
The Crafts division witnessed a 5 per cent like-for-like sales increase in Q3 2013 from the same period a year ago amid continued impressive performance from its business in Europe, Middle East and Africa region, and recovery in North America.
 
Notwithstanding a challenging economic outlook, Coats is well placed to maintain its impressive revenue and profit growth, going forward given its market leadership position in the industrial thread and consumer textiles crafts business, and its worldwide presence.
 
The company’s profitability and cash flows may also be boosted by restructuring measures, new product development and enhancement of digital technology. 
 

Fibre2fashion News Desk - India


Must ReadView All

Japan’s JICA promoting energy-saving devices in Bangladesh

Apparel/Garments | On 21st Feb 2018

Japan’s JICA promoting energy-saving devices in Bangladesh

The Japan International Cooperation Agency (JICA) is promoting use of ...

China’s JD.com announces financing pacts for JD Logistics

Textiles | On 21st Feb 2018

China’s JD.com announces financing pacts for JD Logistics

China’s largest retailer JD.com Inc recently announced it has entered ...

Courtesy: Indorama Ventures

Textiles | On 21st Feb 2018

IVL 2017 revenue up 17% y-o-y to $8,438 million

Indorama Ventures Public Company Limited (IVL) has reported revenue...

Interviews View All

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Abhishek Pachauri

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

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Giorgio Mantovani
Corman S.p.A

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

February 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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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