AUSTRALIA: Country Road’s Profits Fall
Country Road, a clothing company majority controlled by South Africa's Woolworths Holding, posted a net profit of A$157,000 ($82,583) for the fiscal first half ended December 31, down from a profit of A$1.1m ($578,606) a year earlier. The company said the weaker result partly reflects a slump following the introduction of a 10 per cent goods and services tax in Australia on July 1.
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