Higher volumes counter currency woes at Unifi - sportstextiles: Lea SportsTextiles

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Higher volumes counter currency woes at Unifi

24/04/2015
US-based yarn manufacturer has released its results for the quarter ending March 29, which show demand for synthetic yarn in the NAFTA and CAFTA regions increased textured polyester sales volumes by more than 7%.

Gross profit improved to $22.3 million from $19.8 million for the prior-year quarter driven by higher sales volumes and higher margins in the polyester and international segments.

However, the devaluation of the Brazilian real adversely affected net sales, and was the principal driver of the $6.4 million net sales decrease, from $176.9 million to $170.5 million for the March 2015 quarter.

CEO Bill Jasper said: "We will continue to evaluate opportunities to increase capacity in the CAFTA and NAFTA regions to capitalise on the growth of synthetic apparel and demand for premier value-added yarns. The enhancements to our credit facility, especially the ability to increase our borrowing capacity annually without further amendments to the agreement, provide us an even stronger foundation to support these and other strategic capital projects as we pursue profitable growth-related opportunities over the next few years."

Related stories:

The North Face deal propels Unifi expansion 10/04/2015
The North Face and Unifi’s recycled off-cuts boost production by 40% 28/01/2015
Repreve rewards sports fans for recycling efforts 08/12/2014
Bio and cellulose materials need to ‘promote environmental message’ 25/11/2014
Growth plans for Unifi include investing upstream 24/10/2014
NFL team picks Unifi’s Repreve as sustainability partner 12/08/2014
Unifi plans big push for Repreve recycled yarns 01/08/2014
Unifi targets fresh markets with Drawtech purchase 10/12/2013
Unifi appoints CFO and VP 30/10/2013

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