Fibres group Lenzing has announced revenues of €1.3 billion for the first half of 2024, an increase of 4.8% year on year. The group also reported an increase in profit, which was up by more than 20%, reaching €164.4 million.

Outgoing chief executive, Stephan Sielaff, said the group’s performance continued “to point in the right direction, even without a significant recovery in the relevant markets”.

The group said consumers were “holding back on unnecessary purchases” in an environment of rising prices, falling real wages in some cases, and concerns about economic growth.

“This is hampering a revival of the consumer apparel market, which is important for Lenzing,” it added.

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