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GPG plc releases 2012 preliminary results

  • 27 Feb 2013

Guinness Peat Group plc today released its preliminary results for the year ended 31 December 2012, incorporating the 2012 preliminary results for Coats plc.

Paul Forman, Group Chief Executive, Coats plc said:

'Coats made encouraging progress in 2012 towards achieving our objectives and delivered results in line with market expectations, despite challenging economic conditions.

'We saw improvement in the second half of 2012 across both the Industrial and Crafts Divisions, providing us with positive momentum going into 2013.

'While the global economy will likely remain mixed this year, Coats occupies a strong position as a global market leader with an unparalleled geographic footprint and a robust and defendable business model. We remain focused on generating profitable and cash generative growth across our three discrete end markets - apparel and footwear, speciality and textile consumer crafts.

'Under GPG’s ownership, Coats has continued to invest in new product development, digital technology and other enabling assets. These actions and our existing assets will continue to sustain and build Coats’ market leadership, revenue and profit growth.'

A full copy of the announcement can be found at www.coats.com/resultsandreports

ENDS

For more information please contact:

Anna Mitchell, Head of Group Communications, anna.mitchell@coats.com
T +44 208 210 5015, M +44 (0)7740 747976

About Coats

With a rich heritage dating back to the 1750s, Coats is the world's leading industrial thread and consumer textile crafts business, at home in more than 70 countries, employing 20,000 people across six continents. Revenues in 2011 were US$1.7bn.

Our well-known brands and strong relationships with customers and consumers mean our products and services meet current and future needs. Our company-wide understanding of our business partners and consumers, coupled with the deep expertise of our people, builds trust and certainty.

Coats’ pioneering history and innovative culture ensure the company continues leading the way around the world: providing complementary and value added products and services to the apparel and footwear industries; extending the crafts offer into new markets and online; and applying innovative techniques to develop products in new areas such as tracer threads, aramids and fibre optics.

  • One in five garments on the planet is held together using Coats’ thread
  • 75 million car airbags are made using Coats’ thread every year
  • Coats produces enough yarn to knit 65 million scarves a year
  • In three and a half hours, Coats makes enough thread to go the moon and back
  • 300 million pairs of shoes are made every year using Coats’ thread
  • One million teabags using Coats’ thread are brewed every 10 minutes
  • Thousands of surgical operations take place every day using Coats’ thread
  • Thomas Edison used Coats’ thread in 1879 to invent the light bulb
  • Coats produces enough thread to reach around the Equator every 11 minutes
  • Coats is the second largest and fastest growing global zip manufacturer

To find out more about Coats visit www.coats.com

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