{"id":4804,"date":"2017-11-16T10:41:20","date_gmt":"2017-11-16T10:41:20","guid":{"rendered":"http:\/\/coats.com\/?post_type=news_post_type&p=4804"},"modified":"2023-11-17T11:05:27","modified_gmt":"2023-11-17T11:05:27","slug":"trading-update-2","status":"publish","type":"news_post_type","link":"https:\/\/www.coats.com\/fr\/news\/2017\/11\/trading-update-2\/","title":{"rendered":"Trading update"},"content":{"rendered":"

Coats Group plc, the world\u2019s leading industrial thread manufacturer, announces a trading update for the period 1 July to 31 October 2017<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\nJuly to October<\/th>\n <\/th>\nYear to October<\/p>\n<\/th>\n<\/tr>\n
 <\/td>\nReported <\/th>\nCER sales* <\/strong><\/th>\nOrganic sales*** <\/strong><\/th>\n <\/th>\nReported<\/th>\nCER sales*<\/th>\nOrganic sales**<\/th>\n<\/tr>\n<\/thead>\n
Industrial <\/td>\n6% <\/td>\n5% <\/td>\n5% <\/td>\n <\/td>\n5% <\/td>\n6% <\/td>\n5% <\/td>\n<\/tr>\n
Apparel & Footwear <\/td>\n6% <\/td>\n6% <\/td>\n6% <\/td>\n <\/td>\n4% <\/td>\n5% <\/td>\n5% <\/td>\n<\/tr>\n
Performance Materials <\/td>\n4% <\/td>\n4% <\/td>\n4% <\/td>\n <\/td>\n11% <\/td>\n12% <\/td>\n7% <\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Crafts <\/td>\n(12)% <\/td>\n(12)% <\/td>\n(12)% <\/td>\n <\/td>\n(9)% <\/td>\n(10)% <\/td>\n(10)% <\/td>\n<\/tr>\n
 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Group <\/td>\n3% <\/td>\n2% <\/td>\n2% <\/td>\n <\/td>\n3% <\/td>\n4% <\/td>\n3% <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n

* Constant exchange rate (CER) restates 2016 figures at 2017 exchange rates
** On a CER basis excluding contributions from bolt-on acquisitions
*** Organic growth for the period was in line with CER growth due to the acquisitions of Fast React Systems and Gotex taking place in June 2016<\/p>\n

In the following commentary all comparisons are on an organic basis for the period unless stated otherwise.<\/em><\/p>\n

Group sales for the period from 1 July to 31 October 2017 grew 2% year-on-year, driven by a strong performance in the Industrial division, up 5%.<\/p>\n

This strong Industrial performance was achieved due to good momentum in the core Apparel and Footwear business (~70% of the Group\u2019s sales), up 6%, which is ahead of the year to October growth of 5%. The strong Apparel and Footwear performance in the period was achieved despite continued mixed demand from clothing retailers and ongoing pricing pressures, as we maintained our customer-led approach to innovation and digital solutions, alongside our strong corporate responsibility credentials. Performance Materials continued to grow in the period, up 4%. This was below the year to October growth rate due to a decline in traditional end uses, where US consumer durables (e.g. bedding and quilting) showed a marginal downturn year-on-year following a return to growth in the first half of the year. Growth in hi-tech end uses remained robust with key end uses (e.g. wire and cable, and engineering performance yarns) continuing to deliver double-digit year-on-year growth. The outlook for Performance Materials remains positive.<\/p>\n

The Crafts division remained weak showing a year-on-year decline of 12% for the period (10% decline for the year-to-date). The North American Crafts business, which now accounts for around 10% of Group sales, was the main driver behind the Crafts sales decline as underlying market conditions remained tough, as well as having been adversely impacted in the period by the introduction of own-label handknitting products at a major customer.<\/p>\n

Strategic progress<\/p>\n

As previously announced, key focus areas for driving the next phase of growth at Coats relate to simplification, innovation and further development of digital capabilities, all of which are an evolution of the existing strategy. We have made good progress in these focus areas in the period and continue to work on developing the detailed plans. We will provide a further update in February 2018 with the announcement of the 2017 Full Year Results.<\/p>\n

Outlook<\/p>\n

The Group continues to perform strongly, particularly in the Industrial division, and expects to deliver 2017 full year results in line with management\u2019s expectations.<\/p>","protected":false},"excerpt":{"rendered":"

Coats has announced a trading update for the period 1 July to 31 October 2017.<\/p>","protected":false},"featured_media":4749,"template":"","news-type":[149],"class_list":["post-4804","news_post_type","type-news_post_type","status-publish","has-post-thumbnail","hentry","news-type-group"],"acf":[],"yoast_head":"\nTrading update | Coats Group plc<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.coats.com\/fr\/news\/2017\/11\/trading-update-2\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trading update | Coats Group plc\" \/>\n<meta property=\"og:description\" content=\"Coats has announced a trading update for the period 1 July to 31 October 2017.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.coats.com\/fr\/news\/2017\/11\/trading-update-2\/\" \/>\n<meta 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