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Pettenati SA Industria Textil posts strong Q1 sales
23
Jan '14
Despite a challenging global and domestic economic scenario, Brazilian textile company Pettenati SA Industria Textil posted strong sales revenue in the first quarter of the current fiscal 2013-14.
 
The company, which is primarily engaged in the manufacture of clothing and fabrics, witnessed a growth of 16.4 per cent in its consolidated net sales at R$ 84.6 million in the three months ended September 30, 2013 from R$ 72.7 million in the same period a year ago.
 
Revenue from its home market, Brazil, grew by 13 per cent to R$ 52.7 million in the first quarter of the financial year ending June 30, 2014 from R$ 46.6 million in the same period a year ago despite economic headwinds which curtailed consumer spending in one of the major emerging markets in the world.
 
The company benefitted largely from good response to its new collections which boosted sales in the domestic market in Q1 FY 2013-14. However, competition from imports continues to weigh on better penetration of the domestic market. 
 
Revenue from export markets witnessed a growth of 21.8 per cent to R$ 31.8 million in the quarter ended September 30, 2013 from R$ 26.1 million in the same period a year ago despite political and economic troubles in major markets such as Argentina.
 
Improving sales numbers also helped boost operating profitability as Pettenati SA Industria Textil reported a consolidated EBITDA growth of 29.6 per cent to R$ 4.4 million in Q1 FY 2013-14 from the same period a year ago.
 
The Company’s product lines include Softs, Plushs, Half Meshes, Viscose and Sport Lines, among others.
 

Fibre2fashion News Desk - India

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