Home / Knowledge / News / Textiles / H1 sales up 4% at industrial threads maker Coats
H1 sales up 4% at industrial threads maker Coats
04
Aug '15
For the six months ended June 30, 2015, revenue at industrial thread and consumer textile crafts manufacturer and marketer Coats Group went up 4 per cent on a like-for-like basis.

In a statement, Coats said its sales for the first half of 2015 grew 4 per cent on a like-for-like basis, but was down 3 per cent on a reported basis to reach US $748.1 million.

It added that its Speciality business continued to generate double digit sales growth and achieved 13 per cent year over year growth in the reporting period.

Before exceptional items, operating profit rose 9 per cent like-for-like, with the Industrial segment operating profit surging 15 per cent year on year.

Adjusted earnings per share soared 20 per cent to 1.82 cents, however reported earnings per share was negatively impacted by non-operating items.

“Non-operating items, primarily foreign exchange losses on parent group cash and discontinued losses related to EMEA Crafts, had a negative impact on reported earnings,” it explained.

However on an adjusted basis, Coats continued to deliver good growth and consistent delivery of good levels of free cash flow provide a solid platform for ongoing investment in growth opportunities.

Coats informed that adjusted free cash flow for the last twelve months totaled $50 million and that it completed sale of the EMEA Crafts business in July 2015.

Group CEO Paul Forman said,” Coats performed well in the first half of 2015, delivering a 9 per cent increase in operating profit.”

“The Speciality business continued to deliver double digit sales growth, with product innovation playing a key role, and we achieved further market share gains in the core apparel and footwear business,” he added.

“Both factors contributed to 15 per cent growth in the Industrial segment profit, while performance in our ongoing Crafts business was impacted by reduced fashion hand knitting sales,” Forman observed.

“There was encouraging growth in some product ranges and notably greater predictability of performance,” he noted.

“Supported by our defined growth strategy, key differentiators and strong underlying business performance, Coats is well positioned for 2015 and beyond,” Forman concluded by saying.

Coats manufactures and markets industrial thread and consumer textile crafts and is at home in more than 70 countries, employing approximately 20,000 people across six continents.

Headquartered in UK, Coats Group is listed on the London, New Zealand and Australian stock exchanges and generated revenues of $1.7 billion in 2014. (AR)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: Carnegie Fabrics

Textiles | On 17th Jan 2017

Calera Capital acquires majority stake in Carnegie Fabrics

Private equity firm Calera Capital has bought a majority stake in...

President Tsai Ing-wen delivering remarks before boarding her plane bound for Central America. Courtesy: Presdient's office

Textiles | On 16th Jan 2017

‘Textiles at centre of Taiwan’s new trade arrangements’

Textiles should be at the heart of Taiwan’s thinking while developing ...

Apparel/Garments | On 16th Jan 2017

Ralph Lauren develops policy on tracking wood based fabrics

In a bid to trace source of wood based fabrics like viscose and rayon ...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Urs Stalder
Sanitized AG

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

Suresh Patel
Sidwin Fabric

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Robert Brunner
Devereux

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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
January 2017

January 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