US: Unifi returns to profit in Q2
- Q2 net profit US$2.4m, versus $7.6m loss
- Net sales up 3% to $172m
- CEO highlights “process improvement”
Yarn business Unifi returned to profitability in the second quarter of its fiscal year, boosting sales by 3% in the three months to 23 December.
The company’s net profit of $2.4m improved on a $7.6m loss recorded in the same period of 2011.
“The results in the current quarter reflect the company’s ability to drive financial improvement in our core business through disciplined process improvement across all of our operating segments and the success of our mix enrichment strategy domestically,” said Bill Jasper, Unifi chairman and CEO.
Unifi's Repreve recycled polyester yarn and PET resins has been granted Responsible Source certifcation by SGS Global Services, becoming the first yarn to attain the certification. ...
Yarn business Unifi has seen third quarter net profit drop on falling sales, an extension of its holiday shut down in the period, and charges relating to early debt repayments. ...
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