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Coats sees full-year results in line with expectations as revenue rises 5%

By BFN News | 08:51 AM | Wednesday 16 May, 2018


Industrial thread manufacturer Coats said it was on track to deliver full-year results in line with expectations after group sales jumped 5% in the first four months of the year, supported by strong performance in its industrial division. For the period from 1 January to 30 April, industrial sales rose 6% on a constant currency basis, driven by a 3% increase in its footwear business as key Asian markets performed strongly, the firm said. The performance materials business grew by 19% year-on-year. The crafts division saw sales decline 4% on a constant currency basis, weighed by tough market conditions in North America and loss of revenue after a major customer introduced its own-label handknitting products. 'The group continues to perform well, and anticipates delivering 2018 full year results in line with management's expectations,' the firm said. At 8:51am: (LON:COA) Coats Group Plc share price was -1.85p at 81.65p Story provided by StockMarketWire.com

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