CANADA: Technical Textile Firm ADS Posts Profit Fall
Technical textiles producer ADS Inc on Wednesday posted a fall in first quarter net profit to $1.2 million from $1.5m in the year-ago period and said its total sales fell around 17 per cent to $25m from $30.2m in 2001. The Quebec-based company said sales for the technical textiles sector fell from $11.7m to $10.9m, while sales for the composite materials sector reached $14.1m compared to $18.4m last year, with lower sales in the footwear market mainly behind that fall.
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