Coats Group PLC Trading Statement (1437F)
14 Julio 2021 - 1:00AM
UK Regulatory
TIDMCOA
RNS Number : 1437F
Coats Group PLC
14 July 2021
14 July 2021
LEI: 2138003SPYWGAITNFY17
Coats Group plc
Post-close trading update
Strong H1 trading
Coats Group plc ('Coats', the 'Company' or the 'Group'), the
world's leading industrial thread manufacturer, today announces a
trading update for the first six months of the year to 30 June 2021
('the period'). Given the exceptional circumstances of 2020, we
include 2019 detail in this statement.
Trading Update
-- Strong operational performance and demand recovery have continued,
despite recent lockdown impacts in India in May and June which
have now subsided
-- Group sales for the period of $732 million (2020: $536 million,
2019: $705 million)
-- Organic group sales* for the period grew 34% year-on-year (1%
versus 2019); excluding India lockdown impact in May / June organic
growth would have been 3% vs 2019
o A&F: flat vs 2019; 2% growth in core thread (85% of A&F)
vs 2019; positive end market sentiment across US, Europe
and Asia; sports and athleisure continue to perform well,
casualisation trend continues
o PM: 4% growth; all segments are continuing to perform strongly
apart from Personal Protection which continues to be impacted
by US labour availability issues
-- Group adjusted operating profit for the first half now expected
to be around $95 million (2020: $34 million, 2019: $102 million)
-- Pricing actions and self-help productivity programmes continue
to offset heightened inflationary pressures
-- Strong cash generation in the period; net debt (excl. IFRS 16)
of $168 million, 0.8x leverage
-- Performance for the full year 2021 is now anticipated to be moderately
ahead of our previous expectations
The Company will release its Half Year Results as previously
announced on 3 August 2021. The numbers in this update remain
subject to final close procedures and to interim review.
This announcement contains inside information for the purposes
of the Market Abuse Regulation.
*Organic growth on a CER basis includes like-for-like
contributions from acquisitions post acquisition date: Pharr from
February 2020; Threadsol from February 2019.
Enquiry details
+44 (0)7880 471
Investors Victoria Huxster Coats Group plc 350
Richard Mountain / Nick +44 (0)20 3727
Media Hasell FTI Consulting 1374
About Coats Group plc
Coats is the world's leading industrial thread company. At home
in some 50 countries, Coats has a workforce of 17,000 people across
six continents. Revenues in 2020 were US$1.2bn. Coats' pioneering
history and innovative culture ensure the company leads the way
around the world. It provides complementary and value added
products, services and software solutions to the apparel and
footwear industries. It applies innovative techniques to develop
high technology Performance Materials threads, yarns and fabrics in
areas such as Transportation, Telecommunications and Energy, and
Personal Protection. Headquartered in the UK, Coats is a FTSE 250
company, a constituent of the FTSE4Good Index Series, a participant
in the UN Global Compact and a member of the Ellen MacArthur
Foundation. It has also committed to developing a long-term target
to reach net-zero emissions by 2050, the highest level of ambition
on climate under the Science Based Target Initiative.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTDKNBNDBKBKOD
(END) Dow Jones Newswires
July 14, 2021 02:00 ET (06:00 GMT)
Coats (LSE:COA)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Coats (LSE:COA)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024