How has quarterly trading been for apparel and footwear components supplier Coats Group? “Subdued”, coloured by “sustained macroeconomic and tariff uncertainty”.

But its mood remained upbeat in Friday’s trading update covering the four months from 1 July-31 October as the group “delivered a resilient performance, in line with our expectations”. It also maintained its full-year outlook, citing a trading performance “in line with market expectations”.

That “resilient performance” translated into revenues for the period falling 1% as Coats said it saw “encouraging growth in target organic adjacencies as well as further outperformance in core markets”.

It added: “We have also successfully managed pricing pressures and flexed our cost base in the period. As a result operating profit was at a

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