UK: Leather Industry Crippled By 122 Per Cent Profit Slump
Leather manufacturers and processing companies in the UK have seen profits slump by a staggering 122.1 per cent to minus £106,000 on average over the past three years according to a report from The Prospect Shop. Sales have fallen by 20.6 per cent to £12.6m too, the report says.The report, called "Leather Manufacturers & Processors", looks at the financial performance of 60 leading companies over the past three full accounting years. It shows that profitability ratios have all witnessed decreases, growth in sales has continued to decline, and borrowing ratios have also deteriorated.
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