Australian manufacturer Austrim Nylex is preparing to rid itself of its low-performing, non-core assets.

The announcement came as the company unveiled a full-year loss of $A273.8m, which followed write-offs and provisions for its rationalisation program of $A279.4m.

Chairman, John Moule, said higher fuel prices, the weak Australian dollar and troubles in the textiles industry hurt profitability, and that weak non-core assets, including its textiles business, will be rationalised through "divestment or closure". Shares in the company rose $A0.03 to $A0.34.


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