Austria-based fiber specialist Lenzing Group has noted decline in revenue in the first half as compared to the same period last year. Less favourable currency exchange rates resulted into 6.4 per cent decline in Lenzing’s revenue at € 1,075.4 million as compared to the same period last year.
The firm’s net profit in the reporting period declined by 39.3 per cent to € 91.3 million as compared to € 150.3 million in the same period previous year.
The company is confident that its corporate strategy sCore TEN helped it to find a better position in the market. However, it is little apprehensive about its condition in the second half of 2018.
On the other hand, Canadian apparel manufacturer Gildan Activewear noted 6.8 per cent increase in net sales at US $ 764.2 million in the second quarter.
Gildan’s operating income during the period under review totaled US $ 121.0 million and adjusted operating income almost remained flat US $ 124.0 million as compared to the corresponding period last year.
For six months, Gildan’s net sales increased 2.2 per cent to reach USD $ 1,411.5 million as compared to the same period last year.
