INDONESIA: Shoe Maker Fortune Mate Posts H1 Loss
Footwear manufacturer PT Fortune Mate Indonesia on Tuesday reported a first half net loss of Rp11.9 billion ($1.3 million) compared to a net profit of Rp18.5 billion ($2m) in the year-ago period last year. The company, which exports around 95 per cent of its production, blamed its fading fortunes on currency changes and a slump in sales to the US - its main market - following the September 11 airline attacks.
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