×
109
Fashion Jobs
NIKE
Product Manager, ed&a Icc
Permanent · Bengaluru
LIFESTYLE BRANDS
Group Manager - E-Commerce Product (B2B)
Permanent · BENGALURU
LIFESTYLE BRANDS
Manager - Product, Louis Philippe
Permanent · BENGALURU
PANTALOONS HO
Senior Executive - Marketing
Permanent · MUMBAI
LIFESTYLE BRANDS
Executive -Key Accounts (Mis),lp
Permanent · BENGALURU
LIFESTYLE BRANDS
Manager - Trade Channel, Finance
Permanent · BENGALURU
LIFESTYLE BRANDS
Sales Executive - Kannur &Amp; Kasargod
Permanent · BENGALURU
LIFESTYLE BRANDS
Senior Executive - Garment Technician (ww &Amp; Kids), Pdqa
Permanent · BENGALURU
NIKE
Grc Compliance Analyst, India – Cis Icc
Permanent · Bengaluru
LIFESTYLE BRANDS
Manager - Marketing, Peter England - Bangalore
Permanent · BENGALURU
LOGIN CONSULTANCY
Marketing Manager
Permanent · INDORE
LOGIN CONSULTANCY
Marketing Manager
Permanent · BHOPAL
NIKE
Senior Product Owner, ed&a - Icc, India Capability Center (Contract)
Permanent · Bengaluru
NIKE
Senior Data & Analytics Business Systems Analyst (Consumer Data Engineering), ed&a - Icc, India Capability Center (Contract)
Permanent · Bengaluru
PANTALOONS HO
Assistant Brand Manager - Mumbai
Permanent · MUMBAI
NIKE
Sap Platform Offshore Technology Capability Leader – Sec Idc
Permanent · BENGALURU
L BRANDS
HR sr Generalist
Permanent · Bengaluru
NOTEBOOK
Graphic Design Intern
Internship · NOIDA
BROADCAST THE COMPANY
Digital Marketing Internship
Internship · MUMBAI
NIKE
Software Engineering Manager, India – Move Icc
Permanent · Bengaluru
NIKE
Senior Data Analyst, ed&a Icc
Permanent · Bengaluru
NIKE
Principal Software Engineer, India – Move Icc
Permanent · Bengaluru

Fibres maker Lenzing sees 59% profit fall, drops dividend

By
Reuters
Published
May 8, 2020
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Austrian fibres producer Lenzing reported a 59% drop in first-quarter net profit on Wednesday and dropped its dividend as the sector grapples with oversupply.


Photo: Shutterstock


Net profit fell to 17.7 million euros ($19.2 million) on revenue down 17% to 466.3 million euros for the three months to March 31, it said.

Prices for standard viscose fell to an all-time low due to oversupply, said the company, which produces cellulose fibres derived from sustainable wood and pulp.

It also said it would withdraw its dividend proposal of one euro per share due to the coronavirus crisis.

"The COVID-19 crisis has a severe impact on the entire textile and apparel industry and has further increased the pressure on prices and volumes,” CEO Stefan Doboczky said.

The company withdrew its 2020 outlook in March.

Lenzing formed a joint venture to produce protective masks for the European market in April with Austria’s Palmers Textil AG.

The JV, Hygiene Austria LP GmbH, has started to produce so-called mouth-nose protective masks and surgical protective masks and plans to produce more than 25 million masks per month, Lenzing said.

Construction of new plants in Brazil and Thailand is progressing according to plan, it said.

© Thomson Reuters 2020 All rights reserved.