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