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Article: Export pushes textile sector's profit over 2003.
- Article from:
- South American Business Information
- Article date:
- April 1, 2004
CopyrightCOPYRIGHT 2004 COMTEX News Network, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Brazil, Apr 1, 2004 (Valor Economico /SABI via COMTEX)
Exports and the valuation of the Brazilian real over the US dollar pushed the performance of the Brazilian textile sector in 2003. According to the national association Abit (Associacao Brasileira da Industria Textil), external sales registered a 30% increase, but turnover remained at US$23bil. A survey made of the 12 main companies reported a 246.6% increase in profit, although the financial result decreased by 35.8%, remaining negative. The total profit fell by 15.2%, due to the 60% high in the price of cotton. Vicunha Textil decreased expenses by 21.1% and converting a loss of R$84mil in 2002 into a profit ...