TenCate registers first-half decline but says Q2 - sportstextiles: Lea SportsTextiles

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TenCate registers first-half decline but says Q2 was better

24/07/2014
Dutch textile technology group TenCate has reported revenues for the first half of 2014 of €497.6 million, which represents a year-on-year drop of 2.6%. Earnings fell by 15.6%.

Specialist textiles and protective equipment for defence forces around the world are an important part of the company’s business.

Chief executive, Loek de Vries, said on announcing the results: “After a weak first quarter, an improvement occurred in the second quarter. Revenues and earnings increased in organic terms by 5% and 22% respectively in the second quarter. Although defence budgets have been depressed for a prolonged period, TenCate is investing in innovations for this market.”

He said he expects revenues from defence markets to increase in the second half of the year.


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