AUSTRALIA: Austrim Nylex To Post FY Loss Of At Least $37m
Diversified industrial Austrim Nylex Ltd today announced it would finish fiscal 2001 with a net loss of not less than $37m. Writedowns of $42m from the Coburg textiles plant rationalisation were to blame for the loss, Austrim said in a statement to the Australian Stock Exchange. "Austrim Nylex anticipates an operating profit after tax and before abnormals of between $5m to $10m, and taking into account the Coburg plant rationalisation a loss of not less than $37m will be reported for the current financial year," the company said.
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