Profits and income rise at PGI - sportstextiles: Lea SportsTextiles

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Profits and income rise at PGI

13/11/2009
Polymer Group (PGI) has reported a rise in profits for the third quarter and nine-month period ended October 3.

Gross profit for the quarter was up 16.4% over the prior-year quarter to $47.2 million and up 10.1% for the nine-month period to $139.2 million. As a result of lower revenues, gross profit margins were 21.2% and 21.8% for the three-month and nine-month period compared with 14.3% and 15.6%, respectively, during the same period last year.

Income from continuing operations rose 148.9% during the third quarter to $18.7 million and 60.9% during the first nine months of the year.

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