View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
August 31, 2010

SPAIN: Dogi reports EUR19.3m first-half profit

Spanish stretch-fibres maker Dogi has posted a EUR19.3m (US$24.6m) first-half net profit - its first in as many years - as sales rose 2.5% to EUR33.9m, the company announced in a regulatory statement.

Spanish stretch-fibres maker Dogi has posted a EUR19.3m (US$24.6m) first-half net profit – its first in as many years – as sales rose 2.5% to EUR33.9m, the company announced in a regulatory statement.

Still, operating profits fell to EUR3m as the Barcelona-based firm continued to streamline its business, which recently emerged from bankruptcy.

“Despite the positive development of the business and the bankruptcy exit, our results continue to suffer form weak sales in our Spanish plant, at least compared with those in our US and Chinese factories where sales continue to rise moderately,” the company said in a statement with stock market watchdog CNMV.

Dogi continues to work on its viability plan through which it hopes to divest non-core assets and explore new financing alternatives. The company recently sold its Sri Lankan factory and is looking to exit a Thai manufacturing joint venture. Dogi added it hopes to re-list on the Spanish Stock Exchange in coming days.

Meanwhile, Spanish textile exports seem to be rebounding amid higher demand from key foreign markets. In the first half of the year, they rose 5% to EUR3.9bn, according to textiles lobby Consejo Intertextil, which said exports should continue to grow in the second half.

Related Companies

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Style