Coats Group - Above market growth
After a robust overall trading update, we have modestly rebalanced our revenue and EBIT estimates in favour of Industrials, Apparel & Footwear with group profit projections unchanged overall. We believe that management is preparing to set out the group’s growth credentials and this may provide further support for a share price that has travelled well since the beginning of the year.Coats Group is a thread manufacturer. Co. serves the following markets: Apparel and Footwear, in which it is a thread supplier to the apparel and footwear industries and also a supplier of zips and provides consulting and software services to those industries; Performance Materials, in which it manufactures technical threads and yarn used in a range of industries which include automotive, household and recreation, medical, healthand food, safety, telecoms, conductive and composites; Crafts America, whereby its Crafts business is focused on the Americas textile crafting industry, which it categorizes into two segments: handknitting yarns and needlecrafts including consumer threads and zips.
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