Springs Global Participações S.A. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 28, 2022
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Springs Global Participações S.A. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was BRL 317.32 million compared to BRL 385.03 million a year ago. Net loss was BRL 160.65 million compared to BRL 37.77 million a year ago.
For the six months, sales was BRL 698.6 million compared to BRL 815.39 million a year ago. Net loss was BRL 225.4 million compared to BRL 65.78 million a year ago. Basic loss per share from continuing operations was BRL 4.5081 compared to BRL 1.3155 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.