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Prices & Quotes - UK Markets - Coats Group (COA)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 67.00p
Change Today:
-1.90p
Market Cap:
973.22m
Sector:
Financial Services

Coats raises profit guidance after strong third quarter

By Frank Prenesti

Date: Tuesday 03 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Industrial thread maker Coats Group lifted full-year profit guidance after a better-than-expected peak third quarter.
The company on Tuesday said it now expected adjusted operating profit for 2020 to be above expectations and in the range of $100m - $110m.

"The improving performance seen to date and trading outlook for the remainder of 2020 remains encouraging, however, we are mindful that uncertainties related to Covid remain around the recovery profile of our various global end markets as we look into 2021," Coats said in a trading statement.

Sales in the four months to October 31 fell 9% year-on-year on a constant currency basis, which reflected a 15% fall in apparel and footwear and a 6% contribution from the acquisition of Pharr High Performance Yarns, which Coats acquired in February.

Footwear and apparel sales were "significantly impacted by brands and manufacturers cancelling or deferring orders from mid-March, as well as enforced government lockdowns affecting a number of our sites", Coats said.

"Our manufacturing footprint is now effectively fully operational and we have seen an encouraging improvement in brand and manufacturer order confidence into the peak trading season of September-November where production is primarily for the spring/summer 2021 season."

"Heightened industry inventory levels from significant Covid-related market disruption in the first half appear to be clearing this year broadly as we anticipated."

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Coats Group Market Data

Currency UK Pounds
Price 67.00p
Change Today -1.90p
52 Week High 79.80p
52 Week Low 56.00p
Volume 919,505
Shares Issued 1,452.57m
Market Cap 973.22m

Performance Indicators

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What The Brokers Say

Strong Buy 5
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 5
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Coats Group Dividends

  Latest Previous
  Interim Final
Ex-Div 21-Oct-21 29-Apr-21
Paid 16-Nov-21 25-May-21
Amount 0.61¢ 1.30¢

Trades for 21-Jan-2022

Time Volume / Share Price
17:06 20,000 @ 67.00p
16:41 5,631 @ 68.50p
16:38 4 @ 67.00p
16:35 485,608 @ 67.00p
16:29 1,100 @ 66.96p

Coats Group Key Personnel

Chair David Gosnell
CFO Jackie Callaway