Hellenic Fabrics see positive developments in denim fabrics sector
31 Aug '07
3 min read
Consequently, the Group's two ginning mills, instead of contributing in profits, have accumulated important losses, that have almost been completely absorbed by the consolidated financial statements of the first half-year period of 2007.
However, there were positive developments in the denim fabrics sector. More specifically, during this period, a remarkable improvement in the European market demand resulted in the increase of denim sales during the first half-year period of 2007 by 25%, in comparison to last year's period.
The Group, which is mainly export oriented, with over 80% of its turnover originating from sales to foreign countries, continues to be affected by the negative consequences of the Euro / USD exchange rate.
The Group's important investments, the high specialization and know-how as well as the as the systematic dedication to continuous development for more than three decades, have created a solid, trustworthy company that can adapt quickly and respond successfully to the continuously changing requirements and challenges of the world market.
The Group's management maintains its estimate for performance improvement during the remaining of the fiscal year, mainly based on the upturn of the denim fabrics market.
marketing@alchempro.com
