Home / Knowledge / News / Textiles / Fiberweb posts interim results for the six months ended June 30
Fiberweb posts interim results for the six months ended June 30
11
Aug '08
Fiberweb plc, the leading international nonwoven fabrics producer, announces its interim results for the six months ended 30 June 2008.

Highlights:
- Steady performance improvement despite challenging
macroeconomic environment
- Total revenue increase of 10% to £260.0 million (H1 2007: £236.7 million) – up 2.6% at constant currency
- Underlying(1) operating profit increase of 38% to £8.8 million (H1 2007: £6.4 million)
- Underlying(1) operating profit margin increase of 0.7 points to 3.4% (H1 2007: 2.7%)
- Net operating cash inflow increase of 25% to £26.2 million (H1 2007: £20.9 million)
- Debt reduced again by £18.7 million to £118.9 million through successful disposals and further working capital reduction
- Further cost reductions by the end of 2009 with annual benefits of at least £5 million on a full year basis
Interim dividend maintained at 1.7 pence.
- New medium-term target for debt of 2x EBITDA

Commenting on the results, Daniel Dayan, Chief Executive Officer, said:
“Fiberweb has delivered a solid half-year of continuing margin recovery and debt reduction against a challenging economic backdrop.

The benefits of on-going simplification and investment are clearly evident. Hygiene has benefited from strong sales growth in developing markets, while Industrial has seen higher margins from portfolio rationalisation and efficiency improvements.

Management actions to increase efficiencies and reduce costs further are expected to benefit the second half, mitigating an uncertain macroeconomic environment and volatility in raw material prices. The Board continues to anticipate progress in the Group's turnaround for the year as a whole.”

Fiberweb plc


Must ReadView All

VF Corporation to split into two independent companies

Apparel/Garments | On 14th Aug 2018

VF Corporation to split into two independent companies

VF Corporation, a global leader in branded lifestyle apparel,...

Courtesy: Good On You

Apparel/Garments | On 14th Aug 2018

Good On You in Oz adds 500 European brands to rating app

Australia-based Good On You’s brand-rating app has recently added 500 ...

Courtesy: USDA/FAS

Textiles | On 14th Aug 2018

US cotton exports in 2017-18 highest in over a decade

Cotton exports from the US in 2017-18 reached their highest level...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Eamonn Tighe
Nature Works LLC

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

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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


August 2018

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

news category


Related Categories:

Advanced Search