Coats, the world’s biggest industrial thread business, reported unaudited half-year results for the fiscal year ending 30 June 2021.
These results continue to show the upward momentum. Its sales in the first half of the year was $732 million, compared to $536 million in the first half of 2020.
The company observed encouraging momentum and recovery in apparel and footwear as the core thread business was up by 2 per cent compared to 2019 (41 compared to 2020) There’s been positive end market sentiment across the US, Europe and Asia; also, sports and athleisure performed well due to ongoing casualisation trend.
Coats has seen continued recovery and positive momentum during the first half of the year, with strong demand for its EcoVerde product range and revenue of US $ 43 million. The company also launched 12 new products generating US $ 11 million of incremental revenue. Coats has a workforce of 17,000 people across 6 continents, at home in some 50 countries.
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