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Home / Knowledge / News / Textiles / Fiberweb - trading prospects in line with expectations

Fiberweb - trading prospects in line with expectations

31
Oct '08

Interim Management Statement from Fiberweb plc : The following Interim Management Statement, as required by the UK Listing Authority's Disclosure and Transparency Rules, covers the 17 week period from 1 July 2008 to 30 October 2008.

Trading in the period has been steady and in line with management expectations.

Sales have been stable compared to the prior year at constant currency, although the industrial business has experienced some weakness in several markets.

Despite the impact of a strengthening US dollar, a continued focus on cost reduction and working capital improvement has enabled net debt to be maintained at forecast levels.

While the recent fall in oil prices and weak polymer demand are beginning to reduce the recent severe pressure on raw material and energy pricing, costs on average have remained above those at the start of the year in a highly volatile market environment.

Overall, trading prospects for the full year remain in line with management expectations. Actions to improve margins continue to be management's primary focus in the light of the current high level of macroeconomic uncertainty.

Fiberweb plc

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