NEW ZEALAND: Fabric Firm Experiencing Changes
Recently restructured New Zealand fabric manufacturer, Designer Textiles Ltd, is changing from a textile production company to a sales and marketing organisation, its chief executive has revealed. Philip Moller said his firm was focused on returning to profitability and breaking into new overseas markets after asset write downs, redundancies and goodwill write-off costs of NZ$12 million in the year ended June 30 saw full-year net losses of NZ$11.6m, compared to a NZ$121,000 net loss the previous year.
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