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Canadian uniform provider Unisync Corp Q3 sales leap 20%

18
Aug '21
Pic: Shutterstock
Pic: Shutterstock
Unisync Corp, a Canadian provider of work wear and personal protective apparel, has reported 20 per cent sales increase to $20.7 million (Canadian dollars) in third quarter (Q3) of FY21 ended on June 30, 2021, against $17.2 million in the same period of previous fiscal. The company’s EBITDA improved to $0.3 million (Q3 FY20: loss $0.3 million).
 
“This result was well below what could be expected with our key customers at full staffing levels but compares positively to revenues of same quarter last year when the company realised the full impact of shutdowns on its customers need for employee operational clothing and accessories,” the Canadian uniform provider said in a press release.
 
Plans for new uniform designs that were put on hold by some of the company’s larger clients are now back on track, which should result in a build-up in deferred revenue by the end of this fiscal year and bode well for increased revenues and a return to profitability in fiscal 2022, the company added. Unisync also expects to continue to take advantage of opportunities in the PPE space as Covid-19 moves through the fourth wave amid expectations that PPE will still be required well into fiscal 2022.

Fibre2Fashion News Desk (JL)


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