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Fiberweb to perform in line with its expectations
07
Jul '08
Fiberweb plc, the international nonwoven fabrics producer, is publishing a trading statement, ahead of interim results for the six-month period ending 30 June 2008, which will be announced on 7 August 2008.

The Board is pleased to report that since the issue of our Interim Management Statement on 2 May 2008, the Company has continued to perform in line with its expectations.

Total sales are slightly ahead of the prior year at constant currency, with growth in hygiene more than offsetting the downturn in US and European construction markets.

During the first half, efficiency improvements and pricing actions have outweighed the impact of raw material costs which, notwithstanding record oil prices, have been somewhat constrained in Europe, but have increased considerably in the USA. As a result, margins remain in line with the Company's expectations.

The introduction of new lines and cost reductions during the first half of 2008 are expected to impact performance positively in the second half.

As indicated in the Interim Management Statement, the Company is in the process of implementing additional cost reductions, further details of which will be given at the time of the interim results.

Fiberweb plc


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