American textile firm Unifi kicks off FY22 with 38% rise in sales

Unifi, a US-based leading innovators in recycled and synthetic yarns, has reported a 38.5 per cent sales growth to $195.9 million in the first quarter (Q1) of FY22 over the same period of prior fiscal. The performance was primarily driven by double digit growth across all business segments over the quarter of FY21, which was adversely impacted by the COVID-19 pandemic.

 

Unifi, a leading innovators in recycled and synthetic yarns, has reported a 38.5 per cent sales growth to $195.9 million in the first quarter (Q1) of FY22 over the same period of prior fiscal. The performance was primarily driven by double digit growth across all business segments over the quarter of FY21, which was adversely impacted by the COVID-19.#

“Our first quarter results demonstrate the team’s ability to expand our opportunities, grow our customer base and adapt to a rapidly changing macro environment for our industry. Strong performance in Brazil and Asia contributed to the favourable results, while the polyester and nylon segments continue to demonstrate recovery from the pandemic,” Eddie Ingle, chief executive officer of Unifi, said in a press release.

 

Unifi, a leading innovators in recycled and synthetic yarns, has reported a 38.5 per cent sales growth to $195.9 million in the first quarter (Q1) of FY22 over the same period of prior fiscal. The performance was primarily driven by double digit growth across all business segments over the quarter of FY21, which was adversely impacted by the COVID-19.#

Gross profit for the reported period was $26.1 million ($14.6 million), while operating income rose to $13.3 million ($2.9 million). Moreover, net income during the first quarter improved to $8.7 million ($3.4 million).

 

Unifi, a leading innovators in recycled and synthetic yarns, has reported a 38.5 per cent sales growth to $195.9 million in the first quarter (Q1) of FY22 over the same period of prior fiscal. The performance was primarily driven by double digit growth across all business segments over the quarter of FY21, which was adversely impacted by the COVID-19.#

The company’s two primary segments polyester and nylon posted increase in sales to $89.4 million ($69.0 million) and $20.1 million ($11.0 million) respectively. The sales from Asia surged to $51.4 million ($37.7 million) and Brazil went up to $33.7 million ($22.6 million).

 

Unifi, a leading innovators in recycled and synthetic yarns, has reported a 38.5 per cent sales growth to $195.9 million in the first quarter (Q1) of FY22 over the same period of prior fiscal. The performance was primarily driven by double digit growth across all business segments over the quarter of FY21, which was adversely impacted by the COVID-19.#

“Momentum for Repreve fibre products in Asia, Central America, and the US continues to be strong, and we remain focused on growing our innovative and sustainable product portfolio,” Ingle added.

 

Unifi, a leading innovators in recycled and synthetic yarns, has reported a 38.5 per cent sales growth to $195.9 million in the first quarter (Q1) of FY22 over the same period of prior fiscal. The performance was primarily driven by double digit growth across all business segments over the quarter of FY21, which was adversely impacted by the COVID-19.#

In its outlook for the fiscal 2021, the manufacturer of recycled products said that it anticipates sales volume and Repreve fibre sales growth to drive the total sales to over $750 million.

 

Unifi, a leading innovators in recycled and synthetic yarns, has reported a 38.5 per cent sales growth to $195.9 million in the first quarter (Q1) of FY22 over the same period of prior fiscal. The performance was primarily driven by double digit growth across all business segments over the quarter of FY21, which was adversely impacted by the COVID-19.#

“I’d like to thank all of our employees around the globe for their continued dedication and strong execution, specifically their proactive navigation of temporary supply chain disruptions, input shortages and cost volatility, and labour availability. Given our regional focus and global commercial model, I remain confident that we will maintain a high level of performance to mitigate short-term headwinds, especially as we continue our focus on sustainable growth for Unifi and delivering long-term value for our shareholders,” Ingle concluded.