Gates reports increases in first public financial report

Denver, Colorado –Gates Industrial Corp. PLC reported record fourth-quarter net sales of $781.8 million (€633.7 million), a 17.1% increase over the prior-year quarter, in its first report as a public company.

Net sales for the year rose to $3.04 billion overall in 2017 from $2.75 million in 2016, an increase of 11%.

The increase reflects an improved demand environment in many of the industrial end markets served and progress on growth initiatives, as well as 4.8% growth from acquisitions and 3.2% growth from foreign currency translation, according…

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