{"id":4924,"date":"2014-08-13T07:27:48","date_gmt":"2014-08-13T07:27:48","guid":{"rendered":"http:\/\/coats.com\/?post_type=news_post_type&#038;p=4924"},"modified":"2023-11-23T12:18:56","modified_gmt":"2023-11-23T12:18:56","slug":"gpg-plc-releases-2014-half-year-financial-report","status":"publish","type":"news_post_type","link":"https:\/\/www.coats.com\/it\/news\/2014\/08\/gpg-plc-releases-2014-half-year-financial-report\/","title":{"rendered":"GPG plc releases 2014 half year financial report"},"content":{"rendered":"<p>Guinness Peat Group plc today released its financial results for the first half to 30 June 2014, incorporating the first half results for Coats plc, the world\u2019s leading industrial thread and consumer textile crafts business.<\/p>\n<p><b>Coats plc highlights<\/b><\/p>\n<ul>\n<li>Revenue of $837 million, up 2% year-on-year on a like-for-like<sup>a<\/sup> basis, flat on a reported basis<\/li>\n<li>Operating profit of $65 million, up 5%, like-for-like<sup>a<\/sup> before exceptional items, up 3% on a reported basis<\/li>\n<li>Strong performance across the Industrial Division; Crafts impacted by reduction in fashion handknitting demand and one-off costs<\/li>\n<li>Profit before tax up 28% to $50 million<\/li>\n<li>Net attributable profit more than doubled to $19 million<\/li>\n<li>Last 12 months adjusted free cash flow<sup>b<\/sup> of $49 million<\/li>\n<\/ul>\n<p>Commenting on Coats\u2019 half year\u00a02014\u00a0results Paul Forman, Group Chief Executive, said:<\/p>\n<p>\u2018Coats&#8217; group performance in the first half of 2014 continued to improve and build on the growth achieved in 2013.\u00a0 The Industrial Division delivered another strong performance, illustrating the strength of our core markets and leading global market positions, as well as the increasing contribution from our Speciality business.\u00a0 Crafts performance was impacted by a reduction in fashion handknitting demand and one-off costs.<\/p>\n<p>\u2018We expect both Divisions to contribute positively in the second half of 2014 and for the Group to deliver a year-on-year increase in profits, with full year attributable profit in line with market expectations.\u00a0 The significant growth in attributable profit and good level of free cash flow are satisfying outcomes.\u2019<\/p>\n<p>A full copy of the announcement can be found at <a href=\"http:\/\/www.coats.com\/it\/resultsandreports\/\" rel=\"nofollow\">www.coats.com\/resultsandreports<\/a><\/p>\n<p>a H1 2013\u00a0figures at\u00a0H1 2014\u00a0exchange rates<\/p>\n<p>b See Coats Group financial review for calculation of adjusted free cash flow<\/p>\n<p><b>ENDS<\/b><\/p>","protected":false},"excerpt":{"rendered":"<p>GPG plc today released its financial results for the first half to 30 June 2014.<\/p>","protected":false},"featured_media":6019,"template":"","news-type":[149],"class_list":["post-4924","news_post_type","type-news_post_type","status-publish","has-post-thumbnail","hentry","news-type-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.2 (Yoast SEO v25.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>GPG plc releases 2014 half year financial report | 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\/it\/news\/2014\/08\/gpg-plc-releases-2014-half-year-financial-report\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GPG plc releases 2014 half year financial report | Coats Group plc\" \/>\n<meta property=\"og:description\" content=\"GPG plc today released its 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