Investors warm to Coats shares

Shares in FTSE 250 thread manufacturer Coats Group (LON:COA) climbed 11.28% to 60.54p (as of 15:50 GMT) as trading recovered during the four months ended 31st October. Sales for the period were down by 9% year-on-year but this constituted a major improvement over the 21% decline seen in H1. Adjusted operating profit for 2020 is on track to be ahead of market expectations and management have upgraded their guidance to a $100-100 million range.

However, while the current outlook is positive, COVID remains a developing situation with uncertain impacts as we move towards 2021.