Unifi sees double-digit growth, despite covid
US-based fibre manufacturer Unifi, the producer behind Repreve recycled polyester, has published its results for both the fourth quarter (Q4) and full fiscal year ended July 3, 2022.
Net sales were up 18% year on year over the quarter, reaching $217.6 million. Due to the negative business impact of ongoing covid-related lockdowns in Asia, however, revenues from Repreve fibre products dropped to 31% of net sales in Q4, versus 38% of net sales for the fourth quarter of fiscal 2021.
Chief executive, Eddie Ingle, described the ongoing macro environment as volatile, but highlighted how the firm was still able to generate more than $200 million in sales for three quarters in a row.
Unifi’s full-year figures for fiscal 2022 were the highest in over a decade, achieving net sales of $815.8 million against $667.6 million during the year previous. Repreve fibre’s slice of total revenues declined only marginally over the 12-month period, decreasing from 37% during fiscal 2021 to 36% at the end of fiscal 2022.
“As we look to fiscal 2023, we remain focused on accelerating innovation, expanding our Repreve branding, growing our market share and penetrating new markets. We will remain diligent in aligning pricing to stay ahead of inflation and we expect to continue to make progress towards a stronger and more profitable US business in the quarters and years ahead,” Mr Ingle said.
Samples of Repreve SmartDye, a lower-temperature dyeable recycled polyester. Credit: Unifi.
