Fiberweb announced that for the July-to-October period sales trends have continued to improve with volumes flat versus prior year on a like-for-like basis. The good performance reduces the year-to-date, like-for-like volume decline to 11% from the 17% reported at the half-year.
The European industrial business performed robustly benefiting from good demand for medical products and the successful launch of new roofing products. Americas Industrial benefited from the first significant shipment of new DefenCell products, while still contending with depressed construction and industrial markets. Consumer Fabrics performed well, with strong volumes in North America and Europe and good progress in delivering a cost reduction program, which will be complete, as planned, by the end of the year.
Underlying operating profit for the third quarter was ahead of the same period last year. Operating margin has continued to improve, notwithstanding some headwind from increased raw material prices in the period.