CHINA: Fountain Set Profits Drop
Textile company Fountain Set has reported a drop in profits to HK$186.8m (US$24m), a 14.4 per cent drop for its year end profits. The company have blamed a rise in operating costs, including a rise in the price of oil, for the downward trend. The rise in operating costs also included demands from retailers for shorter ordering times, cutting down on the number of inventories being held.
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