High raw material costs hit Unifi results - sportstextiles: Lea SportsTextiles

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High raw material costs hit Unifi results

26/07/2012
North Carolina-based producer of polyester yarn Unifi has reported sales of $705 million for its 2012 fiscal year, which ended on June 24.

This figure represents a decline of 1.1% compared to the previous company year.

Net income fell to $11.5 million for the 2012 fiscal year compared to $25.1 million the year before; Unifi said profits had been affected by raw material prices “approaching historic highs” in the first half of the fiscal year and volume pressure in Brazil, as a result of a temporary strengthening of the currency there.

“We continued to see recovery in volume across all of our operating segments through the second half of the 2012 fiscal year, and margins improved due to the strength of our premier value-added products and polyester raw material costs subsiding from their historically high levels,” said chief executive, Bill Jasper.


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