Coats is pretty much back to normal on the performance front. For July 1 to October 31, 2022, the threads and footwear components manufacturer recorded strong organic revenue growth after the very strong first half. Year-to-date revenue growth was 14 per cent.

Meanwhile improved pricing and productivity continue to offset inflationary pressures.But there was a moderation compared to the first half due to an industry-wide softening in demand, mainly in apparel, toward the end of the period. Apparel and footwear revenue increased three per cent year on year in the period and 14 per cent yeartodate. Apparel experienced some order cutbacks by customers, as a result of the macroeconomic environment.

Footwear continued to see positive end market sentiment across the US, Europe and Asia with Coats’ acquisitions of Texon and Rheno flex performing in line with expectations.Revenue in Performance Materials increased 15 per cent with all segments continuing to perform well. The group’s pricing actions and self-help efficiency programs continue to offset the significant inflationary pressures in the supply chain. In addition, strategic projects remain on track, and are delivering significant operational and financial benefits.