AUSTRIA: Wolford Q3 profit down despite revenue rise
- Q3 pre-tax profit down 4.6% to EUR4.2m
- Revenue up 2.2% to EUR48.61m
- Company reaffirms guidance
Austrian hosiery brand Wolford has seen its third-quarter pre-tax profit decline despite Christmas trading pushing revenue higher.
Pre-tax profit stood at EUR4.2m (US$5.8m) during the third quarter ended January. Revenue, meanwhile, grew 2.2% to EUR48.6m thanks to a "satisfactory" Christmas.
The company said it is in a phase of "sustainable change". The strategic refocusing plan presented in December is being consistently implemented to return the business to profitability as quickly as possible.
During the first nine months of the year, earnings before tax slumped 66% to EUR1.3m, while revenues slipped 0.6% to EUR123.4m.
- Why China 5-year plan won't change garment-making
- ‘Fixing Fashion’ one stitch at a time
- Five ways to tackle market and demand volatility
- Freeing up working capital in the supply chain
- Hungary offers a mix of strengths and weaknesses
- German sustainable textile scheme heads to Vietnam
- US Q3 in brief: Burlington Stores, Guess, Chico's
- Golden Lady creates a new man-made fibre
- 3D tool uses product data to shake up shopping
- Uniqlo under fire again for China worker abuses
- Wearable technology: The future market potential for smart garments and e-textiles
- Practical Brand Sourcing Strategy
- Statistics: Trends in Global and Regional Man-made Fibre Production - 2015
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Trade and Trade Policy: The World’s Leading Clothing Exporters and Key Markets 2015