Coats Group plc (COA.L) issued a trading update for the period 1 July to 31 October 2023. The Group said it traded as expected during the four month period. Group organic revenue was 12% lower year-on-year, including early signs of the anticipated gradual recovery in Apparel, where organic revenue was 5% lower. Footwear organic revenue was 18% lower year-on-year. Organic revenue in Performance Materials was 20% lower.
Looking forward, Coats Group expects full year performance to be in line with the Board's expectations. The Group remains confident of achieving 2024 operating profit margin goal of approximately 17%. For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
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