TenCate’s sales up 14%
03/11/2006
Dutch industrial group TenCate has reported a 14% increase in sales for the first nine months of 2006, amounting to €600 million ($765.7 million). Operating profit was up 26% to €40.4 million ($51.5 million), and net profit grew 21% to € 69.5 million ($88.6 million). Net sales in the third quarter rose by 15% to €202 million ($257.7 million), an increase of 17%.
In the advanced textiles and composites sector, sales fell by 2% compared with the same period in 2005, ascribed to the divestment of the Permess /Multistiq group. The sales share of defence orders was lower than in the third quarter, but the outlook continues to be favourable, including a sharp increase in the demand for fire-resistant safety fabrics. Following on from its previously announced defence order of $15 million for fire-resistant camouflage fabric, TenCate has received a follow-up order for $11 million.
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