Home / Knowledge / News / Textiles / L&B Technical Yarns sees further improvements in financial performance
L&B Technical Yarns sees further improvements in financial performance
08
Jul '08
Low & Bonar, the international technical textile and contract flooring manufacturer is issuing a pre-close trading update prior to the announcement of its interim results. The Group will announce its interim results for the 6 months ending 31 May 2008 on 14 July 2008.

The Group has continued to trade in line with our expectations, supported by our broad product range and geographic spread, and the increased rate of new product introductions.

Technical Textiles has traded well and has benefited from a first half contribution from MTX, the technical coated fabrics business, acquired in January this year. MTX is trading slightly ahead of our expectations, with a record sales month in April, and the integration process remains firmly on track. We have also seen further improvements in the financial performance of the Technical Yarns business.

Raw material pricing, as expected, despite high oil prices, has remained at acceptable levels with one key material falling in price for the last four months.

Contract flooring has also continued to trade satisfactorily, benefiting from a first time contribution from Westbond, the fusion bonded carpet tile business, acquired in January.

Across the Group, the impact of the strength of the Euro will have a mildly beneficial impact on earnings in the first half, and, provided this exchange rate remains at current levels, also for the full year. Underlying cash flows in local currency
are as expected but the same exchange effect will also increase levels of net debt on translation.

The breadth of product range and geographic diversity that supported both Divisions during the first half is expected to continue to be beneficial, and gives us confidence to expect continued progress for the current year and beyond.

A City Business Briefing was held for Analysts and Shareholders on Monday 2 June to provide this audience with a greater understanding of the ways in which Low & Bonar is adding value through innovation and design. No new or material information relating to the Group's trading or performance was0 disclosed during this event.

Low & Bonar PLC

Must ReadView All

Apparel/Garments | On 23rd Feb 2017

NAFTA renegotiation puts Mexico-US jeans trade at risk

The almost imminent renegotiation of the North America Free Trade...

Rick Helfenbein (left), president and CEO of AAFA, with Juan Estrada, chief of party, Hub; Courtesy: Hub

Apparel/Garments | On 23rd Feb 2017

AAFA inks agreement for best manufacturing in East Africa

The American Apparel & Footwear Association (AAFA) has entered into a ...

Mango vice-chairman and member of the board of directors Daniel Lopez (L) with Ananth Narayanan, CEO, Myntra & Jabong. Courtesy: Myntra

Apparel/Garments | On 23rd Feb 2017

Mango awards distribution & management rights to Myntra

Mango, the Spanish fast fashion brand, has awarded its master...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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
February 2017

February 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