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Article: Goodway expects to be back in the black this year
- Article from:
- New Straits Times
- Article date:
- June 24, 2009
- Author:
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Rupinder Singh
New Straits Times
06-24-2009
Goodway expects to be back in the black this year
Byline: Rupinder Singh
Edition: Main/Lifestyle
Section: Business Times
Type: Company
RUBBER compound maker and tyre retreader Goodway Integrated Industries Bhd expects to return to profitability this year, as commodity prices soften and demand picks up pace.
Goodway posted a net loss of RM12.8 million for the year ended December 31 2008, reversing a year-ago profit of RM4.2 million as soaring oil prices, inflationary pressures and the global financial crisis resulted in liquidity shrinkages.
"Yes, we will definitely see profit this year. Orders have been picking up since the second quarter of this ...