13 October 2016
Coats Group plc
Coats Group plc ('Coats' or the 'Company'), the world's leading industrial thread manufacturer, today issues a trading statement for the period 1 July to 30 September 2016.
The challenging market conditions that impacted the Company's Q2 Industrial sales performance have improved during the third quarter as Coats entered its peak sales season. Inflationary pressures on input prices are being managed well and the Company continues to grow market share and deliver productivity and procurement improvements. As a result, the Board expects adjusted operating profit for full year 2016 to be ahead of its previous expectations. Additionally, improvements to non-operating items will further benefit adjusted EPS, providing current foreign exchange rates persist until the end of the year.
Investors Jaideep Thatai Coats Group plc +44 (0)20 8210 5086
Media Richard Mountain / Nick Hasell FTI Consulting +44 (0)20 3727 1374
This announcement contains inside information for the purposes of the Market Abuse Regulation.
About Coats Group plc
Coats is the world's leading industrial thread manufacturer and a major player in the Americas textile crafts market. At home in more than 60 countries, Coats employs 19,000 people across six continents. Revenues in 2015 were US$1.5bn. Coats' pioneering history and innovative culture ensure the company leads the way around the world: providing complementary and value added products and services to the apparel and footwear industries; applying innovative techniques to develop high technology Speciality threads and yarns in areas such as automotive and fibre optics; and extending the crafts offer into new markets and online. Headquartered in the UK, Coats has a premium listing on the London Stock Exchange. To find out more about Coats visit www.coats.com.
This information is provided by RNS