Feb 26, 2016
Operating profit up 19% in 2015 at Coats
Feb 26, 2016
Coats Group Plc, a UK based manufacturer of industrial threads, reported a rise of 19 per cent in its operating profit before exceptional items to $139 million on a like-for-like basis in 2015, according to a press statement released by the company.
The operating margin for the group was reported to have risen by 130 bps to 9.4 per cent in 2015. Adjusted earnings per share (EPS) rose by 38 per cent during this period to 3.96 cents on a like-for-like basis.
Adjusted free cash flow was reported to be $74 million in 2015, a fall of 15.9 per cent as compared to $88 million in 2014.
Commenting on the results, Paul Forman, Group CEO of Coats Group said, “Across the group, margins increased due to volume growth, lower input prices and procurement and productivity savings. This contributed to like-for-like adjusted EPS growth of 38 per cent.”
“We enter 2016 on a solid footing with improving returns and quality of earnings and a stronger business portfolio. Our cash-flow generation will remain strong which will allow us to continue to reinvest in organic and inorganic growth opportunities,” he said.
“Whilst we face a backdrop of mixed economic conditions, we are cautiously optimistic of growing the business in 2016,” he added.
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