Yarns & Fabrics Divisional revenues up at Low & Bonar
20 Jul '06
2 min read
Low & Bonar PLC, the specialist materials group, today reports its results for the half year ended 31 May 2006.
Highlights
- Turnover up 15 percent to £89.7m with continuing turnover up 10 percent to £86.2m
- Solid progress in Floors Division with revenues up 7 percent to £47.8m driven by successful range launches
- Yarns & Fabrics Divisional revenues up 25 percent to £41.8m of which organic revenues were up 14 percent
Increase in operating profit before amortisation and non-recurring items of 10 percent to £5.1m despite the negative impact of higher raw material prices and energy costs
Recent acquisitions – Xirion, Threshold and Geotipptex – successfully integrated and performing as planned
Proposed acquisition of Colbond, announced on 7 July 2006, will provide a step change for the Group and create exciting new strategic opportunities within the technical textiles market
Commenting on the results, Paul Forman, Group Chief Executive, said: “This has been another strong performance with revenue growth in both our Divisions and profit growth in spite of further increases in raw material costs. We have also seen good performances from our recent acquisitions."
"The proposed acquisition of Colbond provides exciting new strategic opportunities for us within the technical textiles market and further enhances the Group's long-term growth potential.”
Low & Bonar PLC is an international group manufacturing and supplying a wide range of products in the Specialist Materials market. Specialist Materials is an international business, supplying yarns, fabrics and flooring products to a broad range of customers.
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