DOGI: weaker sales raise Q1 loss

BODYWEAR fabrics producer Dogi announced first quarter results that showed sales down by 3.3 per cent, to EUR 10.6m, as a 1.7 per cent sales rise by the Spanish company failed to offset the 5 per cent decline suffered by the EFA subsidiary in the US. Although EBITDA for the period rose to EUR 95’000, the net loss rose to EUR 0.87m against EUR 0.83m a year earlier. Private Equity owner Sherpa Capital said that talks were in progress with potential joint venture partners in regions where the company has no significant presence.

In 2015, the US operation had made steady progress while the parent company in Spain struggled towards recovery. The first quarter reversal of the situation could possibly prove a turning point in the development of the business.

See also:

DOGI: revised 2015 accounts show reduced loss

DOGI: capital increase oversubscribed

DOGI: growth ambitions defined