Home / Knowledge / News / Information Technology / Avery Dennison delivers 16% adjusted EPS growth in 2014
Avery Dennison delivers 16% adjusted EPS growth in 2014
11
Feb '15
“In 2014, we delivered 16 per cent growth in adjusted earnings per share, significantly increased return on capital, and distributed over $480 million of cash to shareholders, CEO of Avery Dennison said.

CEO Dean Scarborough said, “Pressure-sensitive Materials delivered its third consecutive year of strong volume growth, while maintaining its profitability and high return on capital.”

While releasing preliminary results for fourth quarter and fiscal 2015, he added, “We are taking further actions to improve PSM's long-term competitive position as we continue to invest in growth.”

According to Scarborough, Retail Branding and Information Solutions faced top-line growth challenges, reflecting share loss in the value and contemporary segments, offset by solid growth in RFID and performance segment.

“We are focusing our sales efforts to recapture share, while reducing fixed costs and aligning resources to better serve all segments of the market,” he noted.

For the fourth quarter of fiscal 2015, Pressure-sensitive Materials (PSM) segment sales rose around 2 per cent and Label and Packaging Materials segment sales hiked in low single digits.

While combined sales of Graphics and Performance Tapes division increased in mid-single digits.

Operating margin improved 60 basis points to 10.1 per cent as the benefit from productivity initiatives and higher volume was partially offset by net impact of raw material input costs and pricing.

Retail Branding and Information Solutions (RBIS) segment sales were down around 5 per cent year on year in the fourth quarter of fiscal 2015 from lower volume in Europe and North America.

According to Avery Dennison, operating margin dipped to 5.5 per cent as the impact of lower volume, a prior year gain on sale of assets more than offset the benefit from productivity initiatives and lower employee costs.

The company repurchased 7.4 million shares in 2014 at an aggregate cost of $356 million and the full year tax rate was 31.1 per cent, below previous expectations of 33 per cent.

In 2014, the company realized around $35 million in savings from restructuring, net of transition costs, and incurred restructuring costs of around $66 million, $55 million of which represents cash charges.

“We expect to increase earnings per share in 2015, despite a significant headwind from currency translation,” said Scarborough.

"We remain committed to achieving our long-term financial targets, growing through innovation and differentiated quality and service, with a continued focus on cost and capital discipline," he observed. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Kai Pilger from Pexels

Textiles | On 24th Apr 2018

Pakistan’s textile exports up 7.77% in July-March FY18

The value of textile and garment exports from Pakistan increased by...

Alliance to form joint entity for safety in factories

Apparel/Garments | On 24th Apr 2018

Alliance to form joint entity for safety in factories

On the 5th anniversary of the Rana Plaza Collapse, The Alliance for...

China’s Alibaba partners with Thailand for digital trade

Textiles | On 24th Apr 2018

China’s Alibaba partners with Thailand for digital trade

China’s Alibaba Group recently signed an agreement with the Thai...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Johan Berlin
InvestKonsult Sweden AB

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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