UK: Sherwood Posts FY Loss After '02 Profit
The company also posted a fall in operating profits to £1.3m for the year, down from £2.8m in 2002.
According to chairman Noel Jervis, 2003 had been "a challenging year" for the company.
"The core garment business has earned a lower profit at margins which are under pressure in an ever-increasingly competitive market place," he said.
Despite the downturn, Sherwood has reported a 15 per cent year-on-year increase in deliveries for the first 12 weeks of 2004, with all areas of business except contract nightwear exhibiting growth.
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