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Fiberweb Reports Success

February 26, 2009

Sales, earnings rise as turnaround program starts to work.

Fiberweb has described 2008 as a solid year, reporting sales up from £473.6 million to £512.8 million. Key factors in this success included good progress in its turnaround program, stable sales in hygiene and growth in industrial. Profits increased from £13.6 million to £13.8 million.

 “While the economic outlook in Fiberweb’s main markets remains challenging, we expect the benefits of previous restructuring plus ongoing cost reductions and investments, together with the recent significant fall in raw material prices to mitigate the impact of the downturn,” said chief executive Daniel Dayan “The defensive nature of our Hygiene businesses and opportunities for further share gains in our Industrial businesses through product and channel innovation provide a strong platform for further progress.”

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