COATS VIYELLA-Weak Demand

Weak Demand THREAD and garments manufacturer, Coates Viyella (CVIL) saw a mixed performance during the year ended December 31,1997, While the company's net sales and value of production increased by 6.8 per cent and 11.5 percent, respectively, its operating profit fell by 6.5 per cent. However, a sharp fall in interest charges (down 48 per cent) helped it post a 122.5 per cent rise in its bottomline. While depreciation rose by 10.1 per cent, tax provision was the same as last year at Rs 2 crore.