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Industrial thread manufacturer group Coats said performance for the full year 2021 was now anticipated to be 'moderately ahead' of its previous expectations as demand recovery continues.
For the first six months of the year to 30 June 2021, adjusted operating profit was now expected to be around $95 million, up from $34 million in 2020, and $102 million in 2019, while sales were $732 million, down from $536 million year-on-year.
'Pricing actions and self-help productivity programmes continue to offset heightened inflationary pressures,' the company said.
The company will release its half year results as previously announced on 3 August 2021.