Tigar has reported total exports of € 1.2m for July 2009. According to a company statement, the footwear segment was the major contributor to the significant increase in exports in the period, with exported volume reaching 70,000 pairs in July. Most exports went to traditional buyers in Finland and Italy, which accounted for nearly half of the firm’s exports in the month. Additional markets included France, Germany and Canada. After initiating shipments to the UK, Tigar also received two further orders from that market in July. Tigar also reported higher exports in its chemicals segment in July, most of which went to Greece.
We expect a slightly positive reaction to the news as the uptick in exports shows that Tigar still has a strong market in Baltic and Scandinavian countries. The company is expected to publish 1H09 results during the week.