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

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Milind Khandwe
Hindoostan Innovation Centre

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

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Bani Batra

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Rupa Sood and Sharan Apparao
Nayaab

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

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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


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