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Coats sees annual performance slightly ahead of expectations amid ongoing recovery
StockMarketWire.com
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Thread manufacturer Coats said annual results would be 'slightly' ahead of expectations after reporting revenue had increased by more than fifth in the fourth months through April.
For the period 1 January 2021 to 30 April 2020, revenue rose 28% year-on-year, with apparel and footwear showing improved momentum and recovery and performance materials was up 14%.
'Pricing and productivity actions being successfully implemented to offset inflationary pressures,' the company said.
'Whilst we remain vigilant around the ongoing Covid pandemic, given the improving end market sentiment, we anticipate that the recovery in our trading will continue and that our anticipated performance for the year will be slightly ahead of our previous expectations,' it added.
At 8:42am: (LON:COA) Coats Group PLC share price was 0p at 66p
Story provided by StockMarketWire.com
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