TAIWAN: Contrasting Fortunes For Top Wool Producers
One of Taiwan's leading wool makers on Friday posted a major plunge in monthly pre-tax profits as it was hit by a big jump in the material's international price. Chuwa Wool Industry Co (Taiwan) Ltd saw its April pre-tax profit slide 88 per cent from the year-ago period to NT$2.5 million, and its four month profit plunge 71.6 per cent to $NT19m. It will now plans to scale back production to avoid passing the extra costs onto its customers.
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