Coats Group PLC (LSE:COA) said trading is now ahead of 2019 levels thanks to continued positive momentum during the first half.
The core thread business was up 2% in the six months ended 30 June compared to the same period two years ago, thanks to a recovery in apparel and footwear. The sports and athleisure categories are performing well as casual clothing is in fashion.
The performance materials arm is also doing well, except for the personal protection segment which continues to be impacted by US labour availability issues.
Total interim revenue came in at US$732mln, up 37% from 2020 and 4% from 2019.
Profit before tax was US$86mln from US$16mln last year.
The industrial thread manufacturer also declared an interim dividend of 0.61 cents per share.
"In the second half of the year we will continue to drive performance by focusing on profitable sales growth, our strong customer relationships, our digital, innovation and sustainability credentials and ongoing pricing and productivity actions,” said chief executive Rajiv Sharma.
Shares rose 3% to 72.9p on Tuesday morning.