The Lenzing Group’s revenue growth is on a roll thanks to increasing demand for specialty fibers. The botanic cellulose fiber provider posted its best first-quarter results since 2012.
For the first quarter of 2016, Lenzing said revenue jumped 8.1% to 512.8 million euro ($581.1 million), owed in large part to high demand for its fibers and the market’s higher fiber prices. This adds to the company’s positive growth trend, with revenue rising 6 percent to $1.98 billion euro ($2.24 billion) for the full 2015.
“We are proud that we have got off to a very good start in the year 2016,” Lenzing CEO Stefan Doboczky, said. “The new Group strategy sCore TEN with its clear focus on profitable growth is taking hold. We are implementing the strategy very disciplined, which is having a noticeable effect on earnings already.”
Read more at Sourcing Journal.