Commenting on the performance in Q2 FY2010-11 Mr. Nitin S. Kasliwal, Managing director and Vice Chairman of SKNL said,“We're pleased to report another encouraging quarter, with revenues up 26.5 % and profits up 9.3% (PAT after minority interest). All our SBUs delivered healthy operating and financial performance. 'Belmonte' in the Consumer Textiles segment and 'Reid & Taylor' in the Luxury Textiles segment remained key contributors to the overall performance for the current quarter.
Our international operations have also started contributing substantially to our top-lines. SKNL's US subsidiary HMX enables tremendous backend-frontend synergies within the group. Given the quality and diversity of its brand portfolio, HMX is an extremely exciting business venture. Apart from giving SKNL an immediate presence in the vast US markets, some of our SBUs are extremely well placed to cater to their needs, both in fabrics as well as in garments. The worldwide license for DKNY menswear is also unfolding an excellent business opportunity and puts SKNL in the forefront of the men's global apparel business.
A back-end, front-end synergy model, well-diversified and strong brand portfolio catering to diverse customer segments across the globe, expansive marketing & distribution network and state-of- the-art manufacturing are purposeful strides in line with our vision of clothiers to the nation today….the world tomorrow. These solid building blocks give us the confidence to continue delivering sustainable growth going forward.”
S. Kumars Nationalwide Limited
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