Lower raw materials prices affect Radici sales revenues

14/07/2017
Synthetic fibres manufacturer Radici Group has reported sales of €946 million and profit of €110 million in 2016. These figures represent a year-on-year decline in sales of 6% but growth of 8% in earnings.

Radici, which also makes plastics and chemicals, had more than 3,000 employees worldwide by the end of last year at 33 manufacturing sites in 16 countries.

Group president, Angelo Radici, said on announcing the results that the group is “solid and well organised”. He said the fall in sales revenue is the result of lower raw materials prices, putting pressure on the prices Radici has been able to charge its customers.