Gates sales up after first year of public trading

Denver, Colorado – Gates Industrial Corp. plc reported increases in overall net sales and revenue for both its fourth quarter and full year financial results in its first year as a publicly traded company.

Net sales for the fourth quarter increased 1.3% to $792.1 million (€700 million) over the previous year, according to a company news release.

Net income, however, decreased to $82.5 million compared to $130.2 during the previous period.

Revenue growth for the quarter was driven by particularly strong demand in industrial end markets and replacement…

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