Lenzing earnings slump as COVID-19 pressures fiber prices, volumes

Lenzing earnings slump as COVID-19 pressures fiber prices, volumes
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07.08.2020

MOSCOW (MRC) -- Textile fiber manufacturer Lenzing reports a steep fall in net profit for the first half of 2020, to EUR1.5 million (USD1.8 million) from EUR78.8 million in the first half of 2019, on revenue down 25.6% from EUR1.09 billion to EUR810.2 million, said Chemweek.The company says it "faced a historically difficult market environment with increased pressure on prices and volumes

Full article at mrcplast.com

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