THAILAND: Pan Asia Footwear Reports 2000 Profits Boost
Pan Asia Footwear has returned net profits of 195m bahts ($4.3m), or 3.55 bahts per share, for the end of 2000 as compared to the net loss of 249m bahts ($5.5m), loss of 4.48 bahts per share, recorded at the end of 1999. The company claims that the upturn in profits is largely due to the rise in exports of 17.8 per cent from Pan Asia and 29.2 per cent from its subsidiaries, which helped raise total sales to 3.8bn baht ($2.4bn), despite a 25.3 per cent drop in domestic sales.
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