GPG's Coats posts flat third-quarter sales, still working through UK pension liability

Mon, 27 Oct 2014

By Paul McBeth Oct. 28 (BusinessDesk) - Guiness Peat Group's Coats unit reported flat sales in the third quarter, affirming expectations annual profit will meet market forecasts, while the wider group continues to work through its outstanding UK pension liabilities. Group sales for the UK threadmaker were unchanged in the third quarter, with a 5 percent increase in its industrial unit offset by a 10 percent decline in the crafts division, GPG said in a statement. The industrial segment is expected to deliver annual sales growth, though tr...

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