Revenues up, but cost of sales hampers Adient - leatherbiz: Leading ne Leatherbiz

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Revenues up, but cost of sales hampers Adient

03/05/2018
Automotive seating provider Adient has announced revenues of almost $4.6 billion for the second quarter of its current financial year. This figure represents an increase of 9% on Adient’s revenues  for the same period a year ago.

However, the company’s cost of sales also went up and it closed the quarter with gross profit of $284 million, down by 25%. As a result, Adient has revised its outlook, saying it believes it will not now achieve the “margin expansion objectives” it set itself for 2020.

It said it had reorganised its management structure during the quarter.


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