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Article: Robinson restructures as crisis bites, NATION
- Article from:
- The Nation (Thailand)
- Article date:
- March 25, 1998
- Author:
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KWANCHAI RUNGFAPAISARN
The Nation (Thailand)
03-25-1998
DEBT-RIDDEN Robinson Department Store Plc Tuesday revealed a new
management structure in a crucial move to shore up its operating results
amid rapidly-slowing sales.
Preecha Vejsupaporn, executive vice-chairman of Robinson Department
Store, said although the company recorded an operating profit in 1997,
it suffered badly from foreign exchange losses due to the baht flotation.
Earlier, the company reported to the stock exchange an unrealised loss
of Bt6.2 billion based on an exchange rate of Bt47.5 to the US dollar up
to Dec 31, 1997.
However, the company is planning to revamp its operating and financial
structures as well as ...