TECHNICAL textiles provider Low & Bonar has said annual sales at constant currency rose more than seven per cent.
The company, which has its historic roots in Dundee and supplies products into industries including construction, logistics and agriculture, said on a like-for-like basis it will be 5.5 per cent ahead in the 12 months to November 30.
It posted £403 million of revenue in the prior year although that included a contribution from Texiplast which was acquired during the second half of that trading period.
For 2014 it said second half sales grew 4.6 per cent overall and 3.2 per cent up on a like-for-like basis.
Within that the yarns division, where Low & Bonar recently announced it would be cutting around 68 jobs from its Dundee operation as part of moving some manufacturing abroad, saw sales rise 1.5 per cent in that period and will be 14 per cent up on the full year.
In October Low & Bonar said it was moving certain carpet manufacturing and artificial turf making processes from Dundee to Abu Dhabi, effectively more than halving its Scottish workforce.
The company said its underlying profit for the 2014 financial year is likely to be at a similar level to 2013 when it posted a pre-tax profit of £17.8m.
It indicated that result would be after taking into account a £2.4m hit as a result of currency fluctuations.
Net debt at November 30 was said to be £88m.
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