{"id":4930,"date":"2014-02-25T08:46:57","date_gmt":"2014-02-25T08:46:57","guid":{"rendered":"http:\/\/coats.com\/?post_type=news_post_type&#038;p=4930"},"modified":"2023-11-19T09:00:20","modified_gmt":"2023-11-19T09:00:20","slug":"gpg-plc-releases-2013-preliminary-results","status":"publish","type":"news_post_type","link":"https:\/\/www.coats.com\/pl\/news\/2014\/02\/gpg-plc-releases-2013-preliminary-results\/","title":{"rendered":"GPG plc releases 2013 preliminary results"},"content":{"rendered":"<p>Guinness Peat Group plc today released its preliminary financial results for the year ended 31 December 2013, incorporating the 2013 preliminary results for Coats plc, the world\u2019s leading industrial thread and consumer textile crafts business.<\/p>\n<p>Coats plc highlights<\/p>\n<ul>\n<li>Robust trading results despite muted market conditions<\/li>\n<li>Revenue of $1,704 million, up 5% like-for-like[1] with both Divisions showing growth<\/li>\n<li>Operating profit up 12% like-for-like before exceptional items<\/li>\n<li>Attributable profit before exceptional items up $20 million to $37 million<\/li>\n<li>Full year free cash flow of $45 million ($54 million before reorganisation, property sales and US antitrust litigation)<\/li>\n<li>Reorganisation activity substantially completed<\/li>\n<li>New Chairman appointed to Coats\u2019 Board<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Commenting on Coats\u2019 Full Year 2013 results Paul Forman, Group Chief Executive, Coats plc said:<\/p>\n<p>\u2018I am pleased to report that despite muted market conditions, Coats&#8217; results for the year showed growth in sales and profit across both Divisions. This illustrates the underlying resilience of our core markets and our strong global market positions.<\/p>\n<p>\u2018We have continued to generate a good level of free cash flow and growth in returns on capital. Furthermore we have increasingly robust foundations for future growth through accelerating product innovation, exciting new service offerings and greater capability in key areas like consumer crafts marketing and market leading digital propositions.\u2019<\/p>\n<p>A full copy of the announcement can be found at\u00a0<a href=\"https:\/\/www.coats.com\/pl\/Investors\/Results\/\">Results and Reports<\/a><\/p>\n<p>[1] 2012 figures at 2013 exchange rates<\/p>\n<p><strong>END<\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>Guinness Peat Group plc today released its preliminary financial results for the year ended 31 December 2013<\/p>","protected":false},"featured_media":0,"template":"","news-type":[149],"class_list":["post-4930","news_post_type","type-news_post_type","status-publish","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\/ 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