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Sioen Industries posts slight dip in YTD Q3 sales
10
Dec '13
Hit by lower revenue from the coating division, Belgium’s Sioen Industries NV which manufactures technical textiles, fine chemicals and high-tech protective clothing witnessed a slight decline in YTD (Year-to-Date) sales at the end of the third quarter of 2013.
 
In the nine months ended 31 October 2013, the Ardooie headquartered company posted a decline of 0.6 per cent in sales from continuing operations at 243.3 million euro from 244.7 million euro in the same period a year ago.
 
The Belgium textile manufacturer comprises of three divisions which are the Coating Division, Apparel Division and the Industrial Applications Division.
 
Sales at the companies coating division which manufactures yarns, fabrics and technical coated textiles fell to 146.1 million euro in YTD Q3 2013 from 150.7 million euro in the same period last year even as revenue from direct coating and transfer coating grew at a faster pace in the third quarter of 2013.
 
However, the company’s apparel division which manufactures innovative technical protective clothing witnessed a growth in sales of 4 per cent at 70.7 million euro at the end of the third quarter of 2013, up from 68 million euro in the same period a year ago with nearly all the product lines posting growth in the first nine months of the year.
 
Revenue from the chemicals divisions rose 1.4 per cent to 36.9 million euro in YTD Q3 2013 from 36.3 million euro in the same period a year ago.
 
While Sioen Industries believes that predicting the economic outlook and its impact on the company’s business may be difficult, a diversified product portfolio, strong emphasis on R&D and cost consciousness are factors that may hold the company in good stead, going forward.
 

Fibre2fashion News Desk - India


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