CANADA: Gildan Q2 profit buoyed by activewear gains
- Q2 adjusted net profit up 29.1% to US$64.3m
- Net sales up 17.3% to $383.2m
- Activewear/underwear sales up, socks down
Gildan Activewear posted a strong increase to its second quarter profit, thanks to a double-digit sales increase in the three months to 3 April.
The Canadian company said sales for its activewear and underwear division had increased 25.3% during the quarter, partially offset by a 23.9% fall in revenues from its socks business.
Gildan said it expected full-year sales in the region of $1.8bn, with earnings per share of around $2.00-2.10.
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