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

Textiles | On 18th Aug 2017

Turkey imposes temporary duty on POY from 7 countries

Turkish ministry of economy has announced imposition of provisional...

Textiles | On 18th Aug 2017

GST return filing deadline for transitional credit

For businesses who want to avail the transitional input tax credit...

Apparel/Garments | On 18th Aug 2017

AEPC wants clarity on minimum wages for garment sector

The Apparel Export Promotion Council (AEPC) has urged the Indian...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Lynda Kelly
Suominen Corporation

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

August 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
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

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
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

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
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

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
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


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