Home / Knowledge / News / Textiles / Low & Bonar's Performance Technical Textiles biz performs well in H1

Low & Bonar's Performance Technical Textiles biz performs well in H1

13
Jul '09
Low & Bonar PLC, the international performance materials group, announces its interim results for the six months ended 31 May 2009.

Operational highlights:
• Technical Coated Fabrics business performed creditably despite weakness in its major market, flexible side curtains for European trailers.
• Performance Technical Textiles business performed very satisfactorily, in aggregate, maintaining strong operating margins despite volume decline.
• Swift and decisive actions taken to reduce costs across the Group, achieving an annualised cost saving of significantly in excess of £10m in the second quarter.
• Further reduction in net debt, now more than halved year-on-year.
• Sales stabilised in the majority of our end markets, where we have successfully maintained our leading positions.
• Continued investment in future growth and high levels of product innovation.
• Further diversified into new sectors and geographies, in particular the Middle East and Asia.
• Focus remains on creating a leading global performance materials business.

Duncan Clegg, Chairman of Low & Bonar, said:
“The Group has seen an encouraging improvement in sales patterns during the second quarter and the period since.

In its business planning, however, the Board is only anticipating a slight recovery in year on year sales levels during the second half. Cost actions and raw material benefits will broadly mitigate the impact of the low year on year volumes. Due to our normal seasonal trends we expect a materially improved second half profit and, as a result, the Board's expectation of profitability for the year remains unchanged.

With strong, well invested market positions and having focused on a number of cost and efficiency initiatives, the Group is well placed to benefit from any further improvement in sales as and when economies around the world recover.”

View the full announcement:

Low & Bonar PLC


Interviews View All

Nitin Soni, Dolphin Jingwei Machines

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Karan Toshniwal, Orange O Tec

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Awen Delaval, Samatoa

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Priyanka Gandhi,

Priyanka Gandhi

Established in 2016, Surat-based Shree Ganesh Yarns is a manufacturer of...

Nitesh Mittal,

Nitesh Mittal

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

Michael Van Den Dolder,

Michael Van Den Dolder

Family-owned German textile machinery manufacturer Trützschler operates...

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

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

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

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

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

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

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


September 2019

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

news category


Related Categories:

Advanced Search