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Fiberweb plc, the international nonwovens fabrics producer published a trading update ahead of preliminary results for the year ending December 31, 2010, which were expected to be announced at the beginning of March 2011.
February 28, 2011
By: Karen McIntyre
Editor
Fiberweb has continued to deliver improved trading in the second half of the year and continues to make good progress towards achieving its medium term target margins. Profits for the full year are expected to slightly exceed market expectations, with like-for-like sales about 10% ahead of the prior year. This will mark a seventh consecutive six-month period of improved performance. The strongest trading performance has been in the Industrial business with good performance in filtration despite U.S. construction markets remaining weak throughout the year. Trading volumes in its wholly-owned hygiene businesses are slightly ahead of the prior year on a like-for-like basis. FitesaFiberweb continues to trade well.
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