Home / Knowledge / News / Textiles / Fiberweb makes steady progress in volatile markets
Fiberweb makes steady progress in volatile markets
06
Aug '10
Fiberweb plc, the leading international nonwoven fabrics producer, announces its interim results for the six months ended 30 June 2010.

Highlights

• Sixth consecutive half-year of growth in underlying operating profit and margin, with ROCE up 100 bps to 8.2%
• Steady performance improvement with gradual recovery in some key markets
• Trading volumes 7% ahead of the equivalent period last year on a like-for-like basis: Industrial volumes up 9% and like-for-like Hygiene volumes up 4%
• Revenues of £231.7 million, 9% ahead like-for-like at constant currency, down 5% as reported (H1 2009: £242.5 million)
• Underlying operating margin of 5.9% up 10 bps on H2 2009, despite £4.7 million adverse net raw material impact; 150bps ahead of H1 2009
• Underlying operating profit increase of 27% to £13.6 million (H1 2009: £10.7 million); ahead by one-third at constant currency
• Cashflow from operations of £25.2 million (H1 2009: £34.0 million), including reduction of working capital of £6.0 million; working capital as a percentage of annualised sales reduced to 12.8% (H1 2009: 14.8%)
• Net debt of £141.8 million increased by £5.2 million from year end (31 December 2009: £136.6 million), after H1-weighted capital expenditure of £22.2 million
• Adjusted earnings per share up 44% at 5.6p (H1 2009: 3.9p), giving dividend cover of 3.3x for the maintained 1.7p interim dividend

Commenting on the results, Malcolm Coster, Chairman of Fiberweb plc, said:“These positive first-half results demonstrate Fiberweb's ability to deliver continued, steady progress in volatile product and raw material markets. The balanced business portfolio, competitive asset base and exciting pipeline of new and improved products created in recent years are delivering consistent performance improvement. We look forward to further operational progress.”

Daniel Dayan, Chief Executive of Fiberweb plc, added:“Volume gains in both hygiene and industrial businesses and a sixth successive half-year of steady improvement in underlying operating profit and margin mark a strong set of interim results for Fiberweb. Our industrial businesses are now beginning to earn a reasonable return on sales and on capital, despite markets that remain under pressure.

“While our hygiene businesses have been impacted by rising raw material prices, the improvement in their competitive position in this challenging environment has been demonstrated. The investments in people, skills and assets made in recent years are delivering this success and we intend to continue following the same focused strategy.”

Fiberweb plc


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Johan Berlin
InvestKonsult Sweden AB

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Wendell Rodricks
Wendell Rodricks

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

October 2017

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
76.8%
No
13.0%
Skip
10.1%

Total Votes: 69

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
62.3%
No
27.5%
Skip
10.1%

Total Votes: 69

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
85.5%
No
10.1%
Skip
4.3%

Total Votes: 69

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
75.4%
No
11.6%
Skip
13.0%

Total Votes: 69


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