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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.

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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

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