Gildan reports fourth-quarter sales and profit up from year ago mark

Gildan reports fourth-quarter sales and profit up from year ago mark
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MONTREAL — Gildan Activewear Inc. says strong sales helped propel a leap in its fourth-quarter profit last year.

The Montreal-based clothing manufacturer, which keeps its books in U.S. dollars, saw fourth-quarter sales jump 13.6 per cent to US$742.7 million compared with $653.7 million a year ago.

That yielded a profit of $59.6 million or 29 cents per diluted share in the quarter ended Dec. 31.

That was up from a profit of $54.9 million or 25 cents per diluted share during the same period in 2017.

On an adjusted basis, Gildan says it earned 43 cents per share last quarter, up from 31 cents per share a year earlier.

The result matched the average analyst estimate, according to Thomson Reuters Eikon.

Companies in this story: (TSX:GIL)

The Canadian Press

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