Silk Industries: printers to the quality

Article Abstract:

Silk Industries weaves and prints silk products and carried out a flotation in June 1995. The company focuses on ties and scarves and its products are used by upmarket designers and are less affected by price considerations. The Far East is seen as a key market since demand for silk ties is likely to rise with increases in wealth. The company's turnover in this region increased by 30% to 3.6 million pounds sterling for 1995 to 1996. The company's pre-tax profit is forecast at 2.7 million pounds sterling for 1996 to 1997.

Textile Finishing, Except Wool, Textile and Fabric Finishing Mills, Men's and boys' neckwear, Textile Printing, Neckties, Men's and Boys' Neckwear Manufacturing

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Branded hopes

Article Abstract:

Silk Industries acquired the Paul Costelloe brand in Sep 1997 to help combat difficult conditions in the silk business, exacerbated by the strength of pound sterling. Paul Costelloe contributed 370,000 pounds sterling operating profit and 3.1 million pounds turnover to results for 1997 to 1998, and is being integrated smoothly. The main silk printing activity has undergone restructuring due to a drop in sales. The company's profit is forecast at 2.5 million pounds sterling for 1998 to 1999 by Teather and Greenwood.

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