Home / Knowledge / News / Textiles / Fiberweb posts interim results for the six months ended June 30
Fiberweb posts interim results for the six months ended June 30
11
Aug '08
Fiberweb plc, the leading international nonwoven fabrics producer, announces its interim results for the six months ended 30 June 2008.

Highlights:
- Steady performance improvement despite challenging
macroeconomic environment
- Total revenue increase of 10% to £260.0 million (H1 2007: £236.7 million) – up 2.6% at constant currency
- Underlying(1) operating profit increase of 38% to £8.8 million (H1 2007: £6.4 million)
- Underlying(1) operating profit margin increase of 0.7 points to 3.4% (H1 2007: 2.7%)
- Net operating cash inflow increase of 25% to £26.2 million (H1 2007: £20.9 million)
- Debt reduced again by £18.7 million to £118.9 million through successful disposals and further working capital reduction
- Further cost reductions by the end of 2009 with annual benefits of at least £5 million on a full year basis
Interim dividend maintained at 1.7 pence.
- New medium-term target for debt of 2x EBITDA

Commenting on the results, Daniel Dayan, Chief Executive Officer, said:
“Fiberweb has delivered a solid half-year of continuing margin recovery and debt reduction against a challenging economic backdrop.

The benefits of on-going simplification and investment are clearly evident. Hygiene has benefited from strong sales growth in developing markets, while Industrial has seen higher margins from portfolio rationalisation and efficiency improvements.

Management actions to increase efficiencies and reduce costs further are expected to benefit the second half, mitigating an uncertain macroeconomic environment and volatility in raw material prices. The Board continues to anticipate progress in the Group's turnaround for the year as a whole.”

Fiberweb plc


Must ReadView All

India mulls new schemes for jobs, textile clusters

Apparel/Garments | On 25th Apr 2018

India mulls new schemes for jobs, textile clusters

India is mulling over alternative schemes for jobs and manufacturing...

Courtesy: HueTrap

Apparel/Garments | On 25th Apr 2018

Making sustainability affordable is a big challenge

In a lot of instances, being sustainable comes with an additional...

Courtesy: Formosa Petrochemical Corporation

Textiles | On 25th Apr 2018

Formosa to set up petrochemical plant in Louisiana

Formosa Petrochemical Corporation has selected St. James Parish in...

Interviews View All

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Top executives
Textile industry, India

The event should be organised every year

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Johan Berlin
InvestKonsult Sweden AB

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search