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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 Group upgrades FY expectations after strong first half

By Michele Maatouk

Date: Wednesday 14 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Industrial thread maker Coats Group upgraded its full-year expectations on Wednesday following a "strong" first half.
In an update for the six months to 30 June, the company said a strong operational performance and demand recovery have continued, despite the impact of lockdowns in India in May and June, which have now subsided.

Group sales for the period rose to $732m from $536m in the first half of 2020 and $705m in 2019. Organic group sales grew 34% year-on-year but just 1% versus 2019. Coats said that excluding the impact of the recent lockdown in India, organic growth would have been 3% compared to 2019.

First-half adjusted operating profit for the group is now expected to come in at around $95m, up from $34m in the same period a year ago but down from $102m in 2019.

Coats said pricing actions and self-help productivity programmes continue to offset heightened inflationary pressure and that its 2021 performance is now anticipated to be "moderately ahead" of its previous expectations.

At 1030 BST, the shares were up 2.7% at 69.60p.

Broker Peel Hunt upped its price target on the buy-rated stock to 85p from 80p after the update.

"We are upgrading our earnings per share forecasts by circa 10%, which follows a 6% increase in May. This has been achieved despite the negative impact of recent lockdowns in India, which have now subsided.

"Assuming no further material Covid impacts, we expect the positive trends to continue and and are increasingly confident that Coats will emerge from the Covid period with an accelerating sales performance, driven by digitisation, new product development, and sustainability."

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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