Home / Knowledge / News / Textiles / Coats Group's FY19 operating profit jumps 30%

Coats Group's FY19 operating profit jumps 30%

Mar '20
Pic: Coats Group
Pic: Coats Group
Coats Group plc, the world's leading industrial thread manufacturer, has announced 2 per cent decline in its revenue to $1,389 million in full fiscal 2019 compared to $1,415 million in previous fiscal year. However operating profit jumped 30 per cent to $191 million in FY19 that ended on December 31, 2019 compared to $147 million in previous year.
Apparel and Footwear (A&F) revenue in FY19 fell 2 per cent to $1,063 million compared to $1083 million in previous year. The headline A&F growth was reportedly impacted by slower demand for zips and trims due to certain in-year fashion trends and conscious low margin product rationalisation, ongoing difficult trading conditions in Latin America Crafts as well as the impact of tail market exits and other customer/product portfolio rationalisation actions.
"I am pleased to report a year of continued growth in profits and cash, despite a market backdrop where we saw lower than normal growth in retail sales of Apparel and Footwear, and temporary softness in some of the industrial end-markets that we serve in Performance Materials. In Apparel and Footwear, this meant taking further market share by delivering high quality products with world class levels of speed, customer service and support," Rajiv Sharma, group chief executive, said in a press release.
Sales in Asia grew 1 per cent to $800 million in FY19 which was underpinned by A&F growth across key non-China markets (Indonesia and Vietnam) as they continued to benefit from incremental volumes moving out of China (a dynamic that was exacerbated by US-China Trade War uncertainty in 2019). Americas and EMEA (Europe, the Middle East and Africa) reported decline in sales by 7 per cent and 3 per cent respectively. 
"We enter 2020 as a lean and agile organisation, having delivered significant positive strategic change through 2019. We are well placed to take advantage of the fast-paced and rapidly changing modern world, by capturing the many opportunities this presents to Coats as a truly global business," Sharma said.

Fibre2Fashion News Desk (JL)

Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 1st Apr 2020

Indian ministry asks over 10 manufacturers to produce PPE

The Indian health ministry has asked over 10 domestic manufacturers...

Pic: Shutterstock

Apparel/Garments | On 1st Apr 2020

Five more brands not to cancel export orders to Bangladesh

Five more global fashion brands-three European and two North...

Pic: Venturelli Luca / Shutterstock.com

Retail | On 1st Apr 2020

H&M to take goods already manufactured, assures suppliers

Swedish retail giant H&M recently assured its garment suppliers of...

Interviews View All

Cyril Pereira, Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Top executives, Indian retail players

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Textile Industry, Head honchos

Textile Industry
Head honchos

Trade buzz: This could be a landmark budget

Priyanka Salot,

Priyanka Salot

The Sleep Company was established to upgrade the sleep quality of every...

Aaron Spivak,

Aaron Spivak

Canada-based Hush Blankets was founded by Lior Ohayon and Aaron Spivak to...

Oliver Schmitz,

Oliver Schmitz

Germany-based Gmöhling is a leading manufacturer of aluminium containers...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Justin Chan & Shyam Gollakota, University of Washington

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

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

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Sonam & Paras Modi, SVA

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

March 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Advanced Search