Coats is bouncing back from the pandemic. In the three months to the end of October 2021, its organic revenue was six per cent higher than the same period in 2019. And the world’s leading industrial thread manufacturer is on track to meet its full-year expectations. Coats’ pricing and productivity actions continue to offset inflationary pressures. Overall in the latest quarter, on an organic basis, group revenue rose 22 per cent compared to last year. Strong operational performance, demand recovery, market share gains and customer wins have continued, despite recent lockdown impacts in Vietnam. The lessons learnt from shutdowns around the globe in 2020 mean the group continues to be well-placed to manage regional Covid disruption as its global footprint and organisational agility allow many of its customers to be supported from other manufacturing sites.
Coats continues to see positive end market sentiment across the US, Europe and Asia. For the remainder of the year, and into 2022, Coats will continue to drive profitable revenue growth by focusing on its strong customer relationships, digital innovation and sustainability credentials and ongoing pricing and productivity actions.
Pre-lockdown fitness trends are merging with pandemic-hit consumers’ love of all-things sporty and comfortable to carry on driving this segment ever higher.