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Coats sales fall modestly as weakness in crafts division, currency headwinds weigh

By BFN News | 09:04 AM | Tuesday 20 November, 2018


Thread manufacturer Coats said Tuesday reported sales fell modestly in the period from July through October as foreign exchange translation headwinds and weak performance in the crafts segment weighed. For period 1 July to 31 October 2018, group sales decreased 2% in the period with Industrial up 4% and Crafts down 31%, the company said. Industrial performance was underpinned by higher growth rates in both the Apparel and Footwear business and the performance materials business. Crafts, which represented 11% of group sales, was weighed down by lower sales in both North America and Latin America, following de-stocking activity within certain customers, alongside the impact of the exit of the non-core lifestyle fabric business that took place in first half of 2018. 'We anticipate delivering 2018 full year trading results for the Group in line with management's expectations,' Coats said. At 9:04am: (LON:COA) Coats Group Plc share price was -0.7p at 76.7p Story provided by StockMarketWire.com

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