Springs Global Participações S.A. Reports Earnings Results for the Second Quarter Ended June 30, 2019
August 14, 2019 at 09:25 pm EDT
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Springs Global Participações S.A. Announced earnings results for the second quarter ended June 30, 2019. For the second quarter, the company announced total revenue was BRL 328.2 million compared to BRL 307.8 million a year ago. Operating income was BRL 10.5 million compared to BRL 17.8 million a year ago. Net loss was BRL 25.8 million compared to net income of BRL 8.9 million a year ago. For the half year, total revenue was BRL 668.9 million compared to BRL 644 million a year ago. Operating income was BRL 20.2 million compared to BRL 36.2 million a year ago. Net income was BRL 133.5 million compared to BRL 2 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. 
