AUSTRALIA: PacDun Posts Huge H1 Loss
Latex products group Pacific Dunlop on Thursday announced an A$92.8 million (US$47.1m) net loss for the first half of the fiscal year but said it expected continuing improvement in the second half. That loss compares to a net profit of A$196.6m (US$99.8m) in the year ago period and includes writedowns of investment in Exide Technologies of A$61.5m (US$31.2m), an Ansell plant in the US of A$63.9m (US$32.4m) and assets linked to business disposals.
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