Information  X 
Enter a valid email address

Coats Group sales slip as FX headwinds weigh

By BFN News | 08:59 AM | Thursday 23 May, 2019

Coats Group said sales in the first-four months slipped as growth across both apparel and footwear and performance materials divisions was offset by foreign exchange headwinds. For the four months ended 30 April, sales fell 3% on reported basis amid FX headwinds, but increased 2% year-on-year on constant currency basis, with apparel and footwear and performance materials delivering growth of 2% and 4%, respectively. In apparel and footwear, the underlying retail markets remained mixed but overall supportive, with growth was driven by a 'robust performance in the core thread business, which grew 3%,' the company said. Performance in the materials business was driven by double-digit growth in hi-tech end uses, with 'some ongoing offset from traditional end use segments in North America, as well as the phasing of certain customer programmes,' the company added. 'Whilst we remain cautious around the current macroeconomic uncertainties, based on our current assessment of business�trends,�we anticipate delivering 2019 full year performance in line with management's expectations,' said Coats Group. At 8:59am: (LON:COA) Coats Group Plc share price was -3.2p at 79.4p Story provided by

a d v e r t i s e m e n t