Unifi’s net revenues up 114% in Q4
United States-based polymer and yarn specialist Unifi, the maker of Repreve recycled fibre, recently released its results for the fourth fiscal quarter, which for the company ended on June 27.
Net sales revenue amounted to $184.4 million, representing a 114% year-on-year increase compared to the fourth quarter (Q4) of 2020. Compared to sales figures for the third quarter of fiscal 2021, the increase was 3%.
Repreve fibre products made up 38% of consolidated net sales, up 10% in contrast to the 28% recorded for Q4 last year.
Regarding net income, the Q4 figure for fiscal 2021 was $13.4 million. (During the same period in 2020, Unifi suffered a net loss of $20.2 million.)
Chief executive, Eddie Ingle, said: “We delivered strong performance across all segments during Q4, driven by our team’s commitment to meeting the needs of our customers in what remains a dynamic business environment.
“The fourth quarter was underpinned by record sales performance in Asia and strong pricing by our Brazil segment, which achieved a robust gross margin despite pandemic restrictions in April 2021.
“The polyester segment also benefited from further demand recovery and momentum for Repreve fibre products remains strong as our team continues growing our innovative and sustainable product portfolio.”
Mr Ingle further added that many customers had notably either pivoted to or accelerated existing commitments to recycled content in their products, meaning that use of Repreve hang tags increased 60% year on year.
