UK: Downturn Hits Dawson International Hard
The company's operating profit before tax came in at £0.2m, significantly down from £1.1m for the same period in 2000. Pre-exceptional profit before tax came in at £0.3m. Adjusted earnings per share were 0.5 pence, down from 0.9 pence for the same period last year.
Commenting on the losses, Ian Irvine, chairman of Dawson International, said: "The first six months of 2001 has been a period of steady progress towards achievement of our strategic goals and our vision to be the world market leader in cashmere. The business has performed well in view of the global economic downturn, and the significant fall in cashmere raw material price."
The new image of Dawson's premier Ballantyne brand will be revealed later this month, when the new advertising campaign featuring international supermodel Karen Elson is launched.
The ad campaign will also support the re-opening of the firm's London Bond Street store.
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