Positive signals of progress
Following the latest quarterly review, Coats Group is to enter the FTSE 250 Index with effect from 19 June. As well as signifying a strong share price performance over the last year, this concludes the company’s transition phase to a strong independent entity in our view. Valuation metrics are on a more conventional footing now and as the market’s understanding of the underlying business model increases we sense that it is starting to anticipate faster growth rates.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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