Springs Global Participações S.A. Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 13, 2019 at 06:21 pm EST
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Springs Global Participações S.A. Announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced sales was BRL 380.431 million compared to BRL 380.145 million a year ago. Operating income was BRL 28.643 million compared to BRL 36.990 million a year ago. Net loss was BRL 64.116 million compared to BRL 9.363 million a year ago. For the nine months, sales was BRL 1,049.319 million compared to BRL 1,024.105 million a year ago. Operating income was BRL 48.802 million compared to BRL 73.142 million a year ago. Net income was BRL 69.416 million compared to net loss of BRL 7.361 million a year ago.
Springs Global Participacoes SA is a Brazil-based company engaged in the textile industry. The Company focuses on spinning, weaving, finishing and manufacturing of home textile products, mainly bed and bath textile articles, such as tablecloths, bed sheets, pillowcases, mattress pads, blankets, towels, shower curtains and bath accessories. The Company offers its products under various brand names, including MMartan, Casas Moyses, Artex, Santista, Springmaid, Fantasia, Arco Iris and Wabasso, among others. The Company operates production facilities in Brazil, Argentina and the United States, as well as distributes products in the United States, Canada, Brazil and Argentina. It controls a numed of subsidiaries, such as Springs Global US Inc, Coteminas SA, Ammo Varejo Ltda and American Sportswear Ltda. It is owned by Companhia de Tecidos Norte de Minas COTEMINAS.
SPRINGS GLOBAL PARTICIPAÇÕES S.A. 
